TOYOTA INDUSTRIES, The Current Fiscal Year Net Income Revised Upward by 6%, Raises Record High Profit Forecast

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Fri Jan 31, 2025 11:40 am JST Earnings

6201 TOYOTA INDUSTRIES CORPORATION 【IFRS】

Earnings Report

TOYOTA INDUSTRIES CORPORATION <6201> [TSE Prime] announced its financial results (based on IFRS) at noon (11:40) on January 31st. The consolidated net income for the cumulative third quarter of the fiscal year ending March 2025 (April to December) increased 7.6% from the same period last year, reaching 248 billion yen.

In addition, the full-year consolidated net income has been revised upward 6.1%, from the previous forecast of 245 billion yen to 260 billion yen (compared to 228 billion yen in the previous period), increasing the growth rate from 7.1% to 13.6%, further surpassing the previous forecast of record-high profits for three consecutive terms.

Based on the full-year plan announced by the company after the upward revision, our estimate of the consolidated net income for the October to March period (2H) is expected to increase 15.4%, from the previous forecast of 97.5 billion yen to 112 billion yen (compared to 89.9 billion yen in the same period of the previous year), increasing the growth rate from 8.5% to 25.1%.

In the most recent three-month period, from October to December (3Q), the consolidated net income grew 9.7% from the same period last year, reaching 100 billion yen. However, the operating profit margin worsened from 8.0% in the same period last year to 5.4%.

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Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	2,467,565	138,688	230,083	169,228	545.1	87.5	Feb 3, 2023	IFRS
Apr - Dec, 2023	2,827,567	200,911	302,259	230,801	743.4	97.8	Feb 2, 2024	IFRS
Apr - Dec, 2024	3,022,727	180,953	312,668	248,382	808.1	90.6	Jan 31, 2025	IFRS
YoY	+6.9%	-9.9%	+3.4%	+7.6%	+8.7%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	1,884,509	93,686	132,160	97,579	323.0	140	Oct 31, 2024	IFRS
Oct - Mar, 2024 New	1,884,509	93,686	152,160	112,579	372.7	140	Jan 31, 2025	IFRS
Revision Rate	0.0%	0.0%	+15.1%	+15.4%	+15.4%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	3,900,000	220,000	325,000	245,000	811.1	280	Oct 31, 2024	IFRS
Mar, 2025 New	3,900,000	220,000	345,000	260,000	860.7	280	Jan 31, 2025	IFRS
Revision Rate	0.0%	0.0%	+6.2%	+6.1%	+6.1%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,995,782	78,352	128,658	89,970	289.8	140	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	1,884,509	93,686	152,160	112,579	372.7	140	Jan 31, 2025	IFRS
YoY	-5.6%	+19.6%	+18.3%	+25.1%	+28.6%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	3,379,891	169,904	262,967	192,861	621.2	190	Apr 27, 2023	IFRS
Mar, 2024	3,833,205	200,404	309,190	228,778	736.9	240	Apr 26, 2024	IFRS
Mar, 2025 Guidance	3,900,000	220,000	345,000	260,000	860.7	280	Jan 31, 2025	IFRS
YoY	+1.7%	+9.8%	+11.6%	+13.6%	+16.8%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Oct - Dec, 2023	990,144	78,859	121,727	91,993	296.3	8.0	Feb 2, 2024	IFRS
Jan - Mar, 2024	1,005,638	-507	6,931	-2,023	-6.5	-0.1	Apr 26, 2024	IFRS
Apr - Jun, 2024	1,025,758	67,896	139,888	111,206	358.2	6.6	Jul 31, 2024	IFRS
Jul - Sep, 2024	989,733	58,418	52,952	36,215	117.3	5.9	Oct 31, 2024	IFRS
Oct - Dec, 2024	1,007,236	54,639	119,828	100,961	328.5	5.4	Jan 31, 2025	IFRS
YoY	+1.7%	-30.7%	-1.6%	+9.7%	+10.9%