"Japanese Car Era, Who Said It Ended?" Toyota Stock Hits Intraday High

Q3 (October-December) Net Profit Up 87%
Record Sales Last Year
Stock Hits All-Time High, Closes Up 4.78%

Japan's Toyota Motor Corporation posted strong third-quarter results, driving its stock price to an intraday all-time high.

According to a report by The Wall Street Journal (WSJ) on the 6th (local time), Toyota announced that its net profit for the third quarter of last year (October to December) increased by 87% year-on-year to 1.358 trillion yen (approximately 120 trillion won). The stock price reached an intraday record high of 3,148 yen and closed at 3,135 yen, up 4.78% from the previous day.

[Photo by Yonhap News]

Third-quarter sales rose 23% year-on-year to 12.041 trillion yen (approximately 107 trillion won), driven by sales growth in North America and Europe. Toyota expects fiscal year sales to increase 17% year-on-year to 43.5 trillion yen, supported by a weaker yen boosting exports.

Toyota set a new sales record last year as the world emerged from the pandemic-induced recession and semiconductor supply shortages. The company sold 11.2 million vehicles last year, surpassing its 2019 record of 10.7 million units. During the same period, Volkswagen, the world's second-largest automaker, sold about 9.2 million vehicles.

However, the group's overall vehicle sales forecast, including subsidiaries Daihatsu Motor and Hino Motors, was revised down from 11.38 million units to 11.23 million units. Toyota attributed this to export suspension issues at Daihatsu.

Meanwhile, Nissan Motor and Honda Motor are scheduled to announce their third-quarter results this Thursday.

This content was produced with the assistance of AI translation services.