Toyota Motor Q1 Profit, Vehicle Sales Down; Lifts FY23 View; Stock Down - Quick Facts

Toyota Motor Corp. (TYT.L,TM), a Japanese automotive major, reported Thursday that its first-quarter net income attributable to the company fell 18 percent to 736.82 billion yen or 53.65 yen per share from last year's 897.83 billion Yen or 64.23 Yen per share last year.

Operating income amounted to 578.66 billion Yen, down 42 percent from the previous year's 997.49 billion Yen.

Sales revenues for the period increased 7 percent to 8.49 trillion Yen from 7.94 trillion Yen generated in the prior year period.

Vehicle sales for the period declined to 2.01 million units from 2.15 million units last year.

Looking ahead for fiscal 2023, the company now expects attributable profit of 2.36 trillion yen or 171.95 yen per share, down 17.2 percent from last year; operating income of 2.40 trillion yen, down 20 percent from last year, and sales revenues of 34.50 trillion yen, up 10 percent from the prior year.

The company previously expected profit of 2.260 trillion yen and sales revenues of 33 trillion yen.

In Japan, Toyota Motor shares were trading at 2,094.50 yen, down 2.85 percent.

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