Toyota Breaks Records: First Japanese Company with Over ¥5 Trillion Annual Profit

Cairo: Hani Kamal El-Din

Toyota Motor has become the first company in Japan’s history to achieve an annual operating profit surpassing the ¥5 trillion mark, according to Kyodo News.

For the fiscal year 2023 (ending in March 2024), the figure reached ¥5.35 trillion, nearly double the previous year’s value. Net profit for the period also doubled, reaching a record ¥4.94 trillion, driven by the highest-ever sales volume of ¥45.1 trillion (+21.4% year-on-year).

Sales of the conglomerate’s vehicles, including those of its subsidiaries Daihatsu Motor and Hino Motors, grew by 5% over the year, totaling 11.09 million units, fueled by the popularity of hybrid cars.

In the current fiscal year, Toyota Motor forecasts a 27.8% decline in net profit to ¥3.57 trillion, while expecting sales to increase by 2% to ¥46 trillion.