OREANDA-NEWS. Toyota Industries Corporation announced FY2014 Second Quarter Consolidated Financial Results (under Japanese GAAP).

During the second quarter of FY2014 (the six months from April 1 to September 30, 2013), total consolidated net sales of Toyota Industries amounted to 981.4 billion yen, an increase of 218.5 billion yen, or 29%, 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 507.1 billion yen, an increase of 104.3 billion yen, or 26%, from the same period of the previous fiscal year.

Within this segment, net sales of the Vehicle Business amounted to 238.1 billion yen, an increase of 80.8 billion yen, or 51%. Unit sales of the RAV4 in creased while those of the Vitz (Yaris overseas) recorded a decrease.

Net sales of the Engine Business totaled 107.6 billion yen, an increase of 2.4 billion yen, or 2%. This is attributable primarily to increases in sales of AR gasoline engines, although sales of KD diesel engines decreased.

Net sales of the Car Air-Conditioning Compressor Business totaled 132.9 billion yen, an increase of 21.2 billion yen, or 19%, resulting from an increase in sales worldwide.

Net sales of the Electronics Parts, Foundry, and Others Business totaled 28.3 billion yen, on par with the same period of the previous fiscal year. Sales of Foundry Business increased while those of Electronics Parts recorded a decrease.

Net sales of the Materials Handling Equipment Segment totaled 383.8 billion yen, an increase of 102.8 billion yen, or 37%. This is due primarily to an in crease in sales of lift trucks worldwide, a mainstay product of this segment, and the inclusion of Cascade Corporation as a subsidiary in March 2013.

Net sales of the Logistics Segment amounted to 47.4 billion yen, an increase of 1.4 billion yen, or 3%. This is attributable to an increase in sales of commissioned logistics business.

Net sales of the Textile Machinery Segment totaled 31.5 billion yen, an increase of 13.5 billion yen, or 75%. This is owing to increases in sales of spinning machinery and weaving machinery.

Net sales of the Others Segment totaled 11.4 billion yen, a decrease of 3.5 billion yen, or 24%, 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 51.8 billion yen, an increase of 14.6 billion yen, or 39%, from the same period of the previous fiscal year and ordinary income of 64.8 billion yen, an increase of 22.4 billion yen, or 53%. Net income totaled 43.5 billion yen, an increase of 19.5 billion yen, or 81%, from the same period of the previous fiscal year.