Core Viewpoint - Toyota Motor Corporation has increased its operating profit forecast for the financial year ending in March despite anticipating a significant financial impact from tariffs on vehicle exports to the United States [1] Financial Performance - The company now expects an operating profit of ¥3.4 trillion (£17 billion) for the financial year [1] - The anticipated hit from tariffs is estimated at ¥1.45 trillion (£7.6 billion) [1]

Core Viewpoint - Major global automakers, including General Motors, Tesla, Toyota, Hyundai, Volkswagen, and Ford, have urged the U.S. government to extend the United States-Mexico-Canada Agreement (USMCA) ahead of its 2026 renewal review, emphasizing the necessity of the agreement and suggesting modifications [1] Group 1: Importance of USMCA - The uncertainty surrounding the future of the USMCA has led Hyundai to delay investment decisions, stating that each month of uncertainty slows down job creation, factory site selection, and technological development [1] - Tesla advocates for continued support of the USMCA and suggests that the three countries adopt a single industry-recognized North American charging standard for electric light-duty vehicles, as well as unify automotive safety standards [1] Group 2: Recommendations from Automakers - Stellantis calls for vehicles produced outside North America to adhere to the USMCA's required parts sourcing rules, or else tariffs on passenger cars from Mexico and Canada that comply with the agreement should be lifted [1] - Toyota emphasizes the importance of allowing duty-free cross-border trade of vehicles and automotive parts that meet the agreement's content and labor rules after the renewal of the USMCA [1]

Core Insights - Toyota's operating profit for Q2 of FY2026 (ending September 30, 2025) was 839.55 billion yen (approximately 38.92 billion RMB), a significant decrease of 27% year-on-year [1] - Despite the pressure on core business profitability, the company's net profit for the quarter reached 932.08 billion yen (approximately 43.21 billion RMB), a year-on-year increase of 62%, primarily driven by investment gains and favorable currency fluctuations [1] Financial Performance - Toyota's net sales for Q2 amounted to 12.38 trillion yen (approximately 573.92 billion RMB), reflecting an 8.2% increase compared to the same period last year, indicating robust global market sales growth [3] - The company remains optimistic about its overall performance for FY2026 (April 2025 to March 2026) and has raised its annual performance forecasts [3] - The revised annual operating profit estimate is now 3.40 trillion yen (approximately 157.62 billion RMB), up from the previous forecast of 3.20 trillion yen; the net profit forecast has been increased to 2.93 trillion yen (approximately 135.83 billion RMB) from 2.66 trillion yen; and the annual net sales forecast has been adjusted from 48.50 trillion yen to 49.00 trillion yen (approximately 2.27 trillion RMB) [3] Challenges and Outlook - The short-term decline in operating profit is attributed to intensified global market competition, fluctuations in raw material costs, and increased R&D investments to promote electrification [3]

Core Insights - Toyota reported Q2 revenue of 12.38 trillion yen, an 8% increase from 11.44 trillion yen in the same period last year, while operating profit fell by 27% to 839.6 billion yen, marking the second consecutive quarter of decline [1][2] - Net profit surged by 62% to 932 billion yen compared to 573.7 billion yen a year earlier [1][2] - The company anticipates a full-year operating profit of 3.4 trillion yen for FY2026, a 29% decrease from the previous year, which is below analyst expectations of 3.9 trillion yen but higher than the earlier forecast of 3.2 trillion yen [2][3] Financial Performance - Q2 sales revenues were 12,377.4 billion yen, up by 932.8 billion yen from 11,444.5 billion yen [2] - Operating income decreased to 839.5 billion yen from 1,155.7 billion yen, resulting in a margin drop from 10.1% to 6.8% [2] - Net income attributable to Toyota Motor Corporation rose to 932 billion yen, with a margin increase from 5.0% to 7.5% [2] Future Outlook - For FY2026, Toyota expects total revenue of 49 trillion yen and net profit of 2.93 trillion yen, with projected vehicle sales of 11.3 million units, up from the previous estimate of 11.2 million [3][4] - The company indicated that the negative impact of U.S. tariffs on operating profit is estimated at 1.45 trillion yen for FY2026, with 900 billion yen of that impact occurring in the first half of the fiscal year [5]

Financial Performance (FY2026 First Half) - Operating income decreased to 20056 billion yen, a decrease of 4585 billion yen year-over-year[16] - Net income attributable to Toyota Motor Corporation decreased to 17734 billion yen[16] - Sales revenue increased to 246307 billion yen, an increase of 13483 billion yen[16] Vehicle Sales (FY2026 First Half) - Total retail vehicle sales reached 5643 thousand units, a 50% increase year-over-year[12] - Toyota and Lexus vehicle sales increased to 5267 thousand units, a 47% increase year-over-year[12] - Electrified vehicle sales accounted for 469% of total retail vehicle sales[12] FY2026 Forecast - The new forecast for sales revenues is 49 trillion yen, an increase of 500 billion yen from the previous forecast[40] - The new forecast for operating income is 34 trillion yen, an increase of 200 billion yen from the previous forecast[40] - The forecast for Toyota and Lexus vehicle sales is 105 million units, a 10% increase from the previous forecast[37] Shareholder Returns - The interim dividend is 45 yen per share, an increase of 5 yen year-over-year[6] - The full-year dividend forecast is 95 yen per share, an increase of 5 yen year-over-year[6]

Financial Data and Key Metrics Changes - The operating income for the first half of the fiscal year was 2 trillion yen, with a full-year forecast of 3.4 trillion yen despite U.S. tariffs [3][4] - Consolidated sales revenues reached 24 trillion yen, with net income of 1.7734 trillion yen [6][10] - The ratio of electrified vehicles rose to 46.9%, driven mainly by strong HEV sales in North America and China [5][6] Business Line Data and Key Metrics Changes - Consolidated vehicle sales for the first half reached 4.783 million units, representing a 5% increase year-on-year [5] - Toyota and Lexus vehicle sales totaled 5.267 million units, a 4.7% increase compared to the previous fiscal year [5] - Operating income in the Financial Services segment increased due to higher loan balances [7] Market Data and Key Metrics Changes - Operating income in Japan decreased due to exchange rate fluctuations and increased expenses [6][7] - North America saw a decrease in operating income primarily due to U.S. tariffs, while other regions experienced increases due to higher sales volumes [6][7] - The China business reported an increase in operating income and share of profit from investments [7] Company Strategy and Development Direction - The company aims to enhance product competitiveness and improve productivity while managing costs and expanding value chain profits [4][11] - A new brand strategy was introduced, including the launch of the Century brand, to better meet customer needs [12][55] - The company is focused on maintaining a diverse range of products to cater to individual customer preferences [4][12] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by U.S. tariffs but emphasized strong global demand for products [23][26] - The company is committed to improving breakeven volumes and enhancing operational foundations to strengthen earnings power [15][16] - Future investments will focus on local production and procurement to mitigate tariff impacts and enhance competitiveness [98][100] Other Important Information - The interim dividend was raised to 45 yen per share, with a full-year forecast of 95 yen per share [4][8] - The company plans to continue flexible share repurchases while considering stock prices [8] Q&A Session Summary Question: How has the company raised its earning power and how is it reflected in Q2 results? - Management highlighted strong global demand and product quality as key factors contributing to earning power, with operating income of 2 trillion yen for Q2 [23][25] Question: What countermeasures are being taken against semiconductor shortfalls? - Management stated that there has been no significant impact so far but is closely monitoring the situation and exploring alternatives [31][32] Question: What is the outlook for the North American market? - Management expects strong demand to continue, with no changes to vehicle sales forecasts despite tariff impacts [34][36] Question: What are the plans for maintaining production capacity in Japan? - Management emphasized the importance of maintaining 3 million units of domestic production and balancing local and overseas production [97][98] Question: How does the company view the impact of tariffs on regional sales operations? - Management noted that a diversified revenue structure mitigates the impact of tariffs, allowing for balanced operations across regions [92][93]

The carmaker now expects group vehicle sales to rise 2.6% to 11.30 million units. ...

Financial Performance - Toyota Motor Corporation reported a first-half net income attributable to the company of 1.77 trillion yen, a decline of 7.0% from the prior year [1] - Earnings per share decreased to 136.07 yen from 142.15 yen [1] - Operating income fell to 2.01 trillion yen, down 18.6% [1] - Automotive operating income decreased by 28.2%, primarily due to increased expenses [1] Sales and Projections - For the six months ended September 30, 2025, sales revenues reached 24.63 trillion yen, an increase of 5.8% [2] - Sales revenues from automotive operations rose by 4.8% to 22.1 trillion yen [2] - Consolidated vehicle unit sales increased by 5.0% to 4,783 thousand units, with Japan's sales up 3.3% and overseas sales up 5.4% [2] - For fiscal 2026, the company projects net income attributable to Toyota Motor of 2.93 trillion yen and sales revenues of 49.0 trillion yen [2]

Core Insights - Toyota Motor reported a nearly 28% year-on-year drop in operating profit for the quarter ended September, despite an over 8% increase in revenue [1][2] - The decline in profit marks the second consecutive quarter of falling profits due to U.S. tariffs, although a recent trade deal reduced tariffs on Japanese exports to the U.S. from 25% to 15% [2] - Japanese automobile exports to the U.S. experienced a significant decline, with a 24.2% drop in September, slightly better than the 28.4% drop in August [3] Financial Performance - Revenue for the quarter was reported at 12.38 trillion yen (approximately $81 billion), compared to 12.18 trillion yen in the previous year [4] - Operating profit was recorded at 834 billion yen, down from 863.1 billion yen [4] Sales Performance - Despite the challenges posed by tariffs, Toyota's vehicle sales, including its luxury brand Lexus, reached 5.3 million units from April to September, reflecting a 4.7% year-on-year increase [3]

IT之家 11 月 5 日消息，丰田汽车今日发布了 2026 财年第二财季（截至 2025 年 9 月 30 日）的报告： 2026 财年（2025 年 4 月~2026 年 3 月）经营利润为 3.40 万亿日元（现汇率约合 1576.21 亿元人民币），此前预计 3.20 万亿日元； 预计 2026 财年净利润为 2.93 万亿日元（现汇率约合 1358.32 亿元人民币），此前预计 2.66 万亿日元； 预计 2026 财年销售净额 49.00 万亿日元（现汇率约合 2.27 万亿元人民币），此前预计 48.50 万亿日元。 | (billions of yen) | | Previous Forecast 2025.4-2026.3 | New Forecast 2025.4-2026.3 | Change | FY2025 Results 2024.4-2025.3 | | --- | --- | --- | --- | --- | --- | | Sales Revenues | | 48,500.0 | 49,000.0 | +500.0 | 48,036.7 | | Operating Inc ...