OREANDA-NEWS. During the third quarter of FY2014 (the nine months from April 1 to December 31, 2013), total consolidated net sales of Toyota Industries amounted to 1,480.6 billion yen, an increase of 340.1 billion yen, or 30%, 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 746.5 billion yen, an increase of 155.8 billion yen, or 26%, from the same period of the previous fiscal year. Within this segment, net sales of the Vehicle Business amounted to 347.0 billion yen, an increase of 119.2 billion yen, or 52%. Unit sales of the RAV4 increased while those of the Vitz (Yaris overseas) recorded a decrease.

Net sales of the Engine Business totaled 154.7 billion yen, on par with the same period of the previous fiscal year. 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 200.7 billion yen, an increase of 35.2 billion yen, or 21%, resulting from an increase in sales worldwide.

Net sales of the Electronics Parts, Foundry, and Others Business totaled 44.0 billion yen, an increase of 1.6 billion yen, or 4%. Sales of Foundry Business increased while those of Electronics Parts recorded a decrease.

Net sales of the Materials Handling Equipment Segment totaled 593.0 billion yen, an increase of 161.9 billion yen, or 38%. This is due primarily to an increase 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 70.7 billion yen, an increase of 1.5 billion yen, or 2%. This is attributable to an increase in sales of commissioned logistics business and the cargo transport business of automotive-related parts.

Net sales of the Textile Machinery Segment totaled 52.0 billion yen, an increase of 23.7 billion yen, or 84%. This is owing to increases in sales of spinning machinery and weaving machinery.

Net sales of the Others Segment totaled 18.1 billion yen, a decrease of 3.0 billion yen, or 14%, due mainly to the dissolution of a subsidiary, TIBC Corporation, in January 2013.

In terms of overall profit, despite an increase in labor costs, research and development expenses, and increase in depreciation, 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 78.0 billion yen, an increase of 26.9 billion yen, or 52%, from the same period of the previous fiscal year and ordinary income of 112.7 billion yen, an increase of 46.7 billion yen, or 71%. Net income totaled 76.4 billion yen, an increase of 35.8 billion yen, or 88%, from the same period of the previous fiscal year.