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Toyota Motor Corporation announced on December 12 that it will reduce its operating revenue by 80% yoy to JPY 500 billion in the current period (ending March 2021). While the operation of plants around the world is unstable due to the spread of the new coronavirus, the impact on sales is expected to be “wide, huge and severe area” and weak movements are expected to continue for the time being. .
Toyota logo on dealers in Tokyo (May 10)
Photo credit: Toru Hanai / Bloomberg
According to Toyota’s financial results data, sales for the current period decreased by 20% from the previous period to 24 trillion yen, and net income and pre-tax earnings were not decided. In the fourth quarter (January-March 2020), operating income fell 27% yoy to ¥ 384 billion. Toyota introduced International Financial Reporting Standards (IFRS) from this term.
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January-March results
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Main plan values for this term
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In terms of operating profit this fiscal year, due to the decrease in sales volume, it will have a negative impact of 1.5 trillion yen compared to the previous fiscal year, and the exchange rate of 430 billion yen.
Kenta Kenta, a Toyota executive officer, believes it is necessary to show some standard as a automaker with a wide industrial scale despite the fact that it is difficult to see the future of the business due to confusion due to the crown in the interview broadcast online . He said he has released his prospect.
In China, which became the world’s first new crown fashion center, car sales have fallen sharply since January. After that, in China, as the situation is coming to an end, the number of cars sold in April increased 4.4% year-on-year to 2.07 million units, showing signs of a recovery in sales .
While the infection spread from Europe and the United States to Japan, Toyota was forced to halt operations at many plants around the world, but because the rate of infection slowed, there are also movements to resume production, including resumption.
Mr. Kon said new car sales are picking up at the bottom in April and are expected to return to the level of the previous year from the end of the year to the next. The United States said the economy was originally strong and that the government’s economic measures were also in place, so it is supposed to return to the same level as the previous year at an early stage. The European market is also based on a recovery after July.
On the other hand, there is growing concern about the spread of the second wave, such as the first outbreak after the launch of the blockade (urban blockade) in April in China and Wuhan, and the outbreak of the second wave, such as the outbreaks in South Korea. South. It remains opaque.
Car sales have dropped dramatically due to factors such as restrictions outside the home in each country affected by the spread of the new crown, and the performance of each company has been directly affected. Ford Motor Co. and Fiat Chrysler Automobiles (FCA) have been in the red for the first three months of the year, with Japanese companies forecasting Nissan’s deficit for the first time in 11 years.
(We will update adding details like financial results and comments in Toyota executive interview)
