OREANDA-NEWS. Toyota-Industries Announced FY2016 First Quarter Consolidated Financial Results.

During the first quarter of fiscal 2016 (the three months from April 1 to June 30, 2015), total consolidated net sales of Toyota Industries amounted to 541.0 billion yen, an increase of 19.9 billion yen, or 4%, 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 248.9 billion yen, a decrease of 8.9 billion yen, or 3%, from the same period of the previous fiscal year. Within this segment, net sales of the Vehicle Business amounted to 109.3 billion yen, a decrease of 11.5 billion yen, or 10%, due to decreases in unit sales of the Vitz (Yaris overseas) and RAV4.

Net sales of the Engine Business totaled 39.0 billion yen, a decrease of 6.5 billion yen, or 14%. This is attributable primarily to decreases in sales of KD diesel engines and AR gasoline engines, although production of GD diesel engines commenced in June 2015.

Net sales of the Car Air-Conditioning Compressor Business totaled 85.7 billion yen, an increase of 10.7 billion yen, or 14%, resulting from an increase in sales in Chinese and European markets.

Net sales of the Electronics Parts, Foundry and Others Business totaled 14.7 billion yen, a decrease of 1.7 billion yen, or 10%, due to decreases in sales of electronics parts and foundry parts.

Net sales of the Materials Handling Equipment Segment totaled 245.7 billion yen, an increase of 29.9 billion yen, or 14%. This is due primarily to an increase in sales in European and North American markets.

Net sales of the Logistics Segment amounted to 24.6 billion yen, an increase of 0.9 billion yen, or 4%. This is attributable to an increase in sales of commissioned logistics business, despite a decrease in sales of cargo transport business of automotive-related parts.

Net sales of the Textile Machinery Segment totaled 14.7 billion yen, a decrease of 2.7 billion yen, or 15%. This is owing to decreases in sales of spinning machinery and weaving machinery, despite an increase in sales of yarn quality measurement instruments.

In terms of overall profit, despite increases in labor costs, depreciation costs and raw material costs, Toyota Industries recorded an increase in profit due mainly to increasing in sales, promoting cost reduction efforts throughout the Toyota Industries Group and the impact of exchange rate fluctuations.

As a result, Toyota Industries posted consolidated operating profit of 29.2 billion yen, an increase of 3.6 billion yen, or 14%, from the same period of the previous fiscal year and ordinary profit of 63.8 billion yen, an increase of 9.3 billion yen, or 17%. Profit attributable to owners of the parent totaled 46.4 billion yen, an increase of 6.3 billion yen, or 16%, from the same period of the previous fiscal year.