OREANDA-NEWS. Toyota Industries Corporation announced its consolidated financial results for the first quarter ended June 30, 2013 (April 1, 2013 to June 30, 2013).

During the first quarter of fiscal 2014 (the three months from April 1 to June 30, 2013), total consolidated net sales of Toyota Industries amounted to 486.7 billion yen, an increase of 100.2 billion yen, or 26%, from the same period of the previous fiscal year. The following is a review of operations for the major business segments.Net sales of the Automobile Segment totaled 253.3 billion yen, an increase of 46.6 billion yen, or 23%,from the same period of the previous fiscal year.

Within this segment, net sales of the Vehicle Business amounted to 117.4 billion yen, an increase of 35.1 billion yen, or 43%. Unit sales of the RAV4 increased while those of the Vitz (Yaris overseas) recorded a decrease.

Net sales of the Engine Business totaled 56.7 billion yen, an increase of 2.7 billion yen, or 5%. This is attributable primarily to increases in sales of AR gasoline engines and KD diesel engines.

Net sales of the Car Air-Conditioning Compressor Business totaled 65.7 billion yen, an increase of 9.7 billion yen, or 17%, resulting from an increase in sales worldwide.

Net sales of the Electronics Parts, Foundry, and Others Business totaled 13.3 billion yen, a decrease of 1.0 billion yen, or 7%. This is owing mainly to decreases in sales of automobile-related electronic devices for the Prius and Aqua.

Net sales of the Materials Handling Equipment Segment totaled 189.6 billion yen, an increase of 50.6 billion yen, or 36%. This is due primarily to an increase in sales outside Japan of lift trucks, a mainstay product of this segment, and the inclusion of Cascade Corporation as a subsidiary in March 2013 although sales in Japan remained on par with the same period of the previous fiscal year.

Net sales of the Logistics Segment amounted to 23.9 billion yen, an increase of 0.9 billion yen, or 4%. This is attributable to an increase in sales of commissioned logistics business.

Net sales of the Textile Machinery Segment totaled 13.6 billion yen, an increase of 4.5 billion yen, or 48%. This is owing to increases in sales of spinning machinery and weaving machinery.

Net sales of the Others Segment totaled 6.0 billion yen, a decrease of 2.5 billion yen, or 29%, due mainly to the dissolution of a subsidiary, TIBC Corporation, in January 2013.

In terms of overall profit, despite an increase in labor costs and research and development expenses, Toyota Industries recorded an increase in sales while promoting cost reduction efforts throughout the Toyota Industries Group and exchange rate fluctuations. As a result, Toyota Industries posted consolidated operating income of 23.8 billion yen, an increase of 5.5 billion yen, or 30%, from the same period of the previous fiscal year and ordinary income of 38.7 billion yen, an increase of 12.8 billion yen, or 49%. Net income totaled 27.9 billion yen, an increase of 13.4 billion yen, or 92%, from the same period of the previous fiscal year.