Expectation Toyota held an annual meeting about its financial results from April 2022 to March 2023 in the beginning of May, 2023. The Japanese company says it expects a record […]
Toyota held an annual meeting about its financial results from April 2022 to March 2023 in the beginning of May, 2023. The Japanese company says it expects a record operating profit of 3 trillion yen, or about 22 billion US dollars, in the current fiscal year through March. The Japanese company projects its group operating income to jump by 10 percent. Also, net profit will rise by 5 percent in fiscal 2023 from the previous year.
The meeting had a positive impact on Toyota’s share price. In terms of sales revenue and market capitalization, Toyota is the largest company among Japanese companies. Even though its economy is not growing well, Japan is the third largest country in terms of Gross Domestic Product (GDP). Thus, the results of Toyota affect itself, its suppliers, other manufacturing companies and the entire Japanese economy.
In this sense, we can say that Toyota’s presentation in May 2023 was positive at least.
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