Toyota FY24 Profit Climbs, To Buy Back Up To 1 Tln Yen Of Shares; Sees Lower FY25 Profit

(RTTNews) - Japanese auto major Toyota Motor Corp. (TYT.L, TM) reported that its net income attributable to the company for the fiscal year ended March 31, 2024 climbed to 4.94 trillion yen or 365.94 yen per share from 2.45 trillion yen or 179.47 yen per share in the previous year.

The company said it will increase the year-end dividend to 45 yen per share, an increase of 10 yen compared to the previous year, and set the annual dividend at 75 yen, totaling over 1 trillion yen.

The company said it sets aside 1 trillion yen as the maximum limit of share repurchases and will cancel 520 million shares, equivalent to 2 trillion yen worth of treasury shares.

Looking ahead for the fiscal year ending March 31, 2025, the company projects consolidated vehicle sales to be 9.500 million units, 100.6% of the previous fiscal year. In Japan, the company expects a decrease in sales volume mainly at Daihatsu. Electrified vehicle sales are expected be a total of 4 million 827 thousand units, or 46.4% of total sales.

For the fiscal year ending March 31, 2025, the company expects sales revenues to be 46.00 trillion yen, up 2.0% from the prior year. It projects operating to be 4.30 trillion yen down 19.7% from the previous year. It anticipates net income attributable to the company to be 3.57 trillion yen, down 27.8% from the prior year.

Toyota's operating income for the year 2024 was 5.35 trillion yen up from 2.73 trillion yen in the prior year.

Total sales revenues for the year 2024 rose to 45.10 trillion yen from 37.15 trillion yen last year.

Consolidated vehicle unit sales in Japan and overseas increased by 621 thousand units or 7.0%, to 9.443 million units in fiscal year 2024 compared with fiscal year 2023. Vehicle unit sales in Japan decreased by 76 thousand units or 3.7%, to 1.993 million units in fiscal year 2024 compared with fiscal year 2023. Meanwhile, overseas vehicle unit sales increased by 697 thousand units, or 10.3%, to 7.450 million units in fiscal year 2024 compared with fiscal year 2023.

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