Friday, 9th May 2008
In Business In Japan,
Record net revenues announced by Toyota
Japanese car giant Toyata has revealed a record breaking rise in net profits for the fiscal year ending March 31st 2008.
Net revenues on a consolidated basis rose by almost ten per cent to 26.29 trillion yen (£131 billion), while net income reportedly rose 4.5 per cent to 1.72 trillion yen, both of which are record results for the company.
Toyota president Katsuaki Watanabe commented: "Our profit structure has become more geographically balanced, with growing contribution from resource-rich countries and emerging countries."
"Net income has steadily increased due to the growth of operating profit from global operations and equity in earnings of affiliated companies," he added.
Operating income also increased to 2.27 trillion yen, according to the official statement from the company, while equity in earnings of associated organisations rose to 270.1 billion yen, attributed to joint projects with several major Chinese firms.
Toyota recently announced its intention to continue supplying home-use fuel cell cogeneration units on behalf of the Japanese government as a bid to reduce carbon emissions.
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