OREANDA-NEWS. Toyota Industries Corporation Reports Consolidated Financial Results for the Three Months Ended June 30, 2014.

During the first quarter of fiscal 2015 (the three months from April 1 to June 30, 2014), total consolidated net sales of Toyota Industries amounted to 521.1 billion yen, an increase of 34.4 billion yen, or 7%, 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 257.8 billion yen, an increase of 4.5 billion yen, or 2%, from the same period of the previous fiscal year.

Within this segment, net sales of the Vehicle Business amounted to 120.8 billion yen, an increase of 3.4 billion yen, or 3%, due to increases of unit sales of the Vitz (Yaris overseas) and RAV4.

Net sales of the Engine Business totaled 45.5 billion yen, a decrease of 11.2 billion yen, or 20%. This is attributable primarily to decreases in sales of KD diesel engines and AR gasoline engines. Net sales of the Car Air-Conditioning Compressor Business totaled 75.0 billion yen, an increase of 9.3 billion yen, or 14%, resulting from an increase in sales in North American and Chinese markets.

Net sales of the Electronics Parts, Foundry, and Others Business totaled 16.4 billion yen, an increase of 3.1 billion yen, or 23%. Net sales of the Materials Handling Equipment Segment totaled 215.8 billion yen, an increase of 26.2 billion yen, or 14%. This is due primarily to an increase in sales in the domestic, North American and European markets.

Net sales of the Logistics Segment amounted to 23.7 billion yen, a decrease of 2.0 billion yen, or 1%. This is attributable to a decrease in sales of commissioned logistics business.

Net sales of the Textile Machinery Segment totaled 17.4 billion yen, an increase of 3.8 billion yen, or 28%. This is owing to increases in sales of spinning machinery and weaving machinery.

In terms of overall profit, despite an increase in labor costs, depreciation costs and raw material costs, 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 25.6 billion yen, an increase of 1.8 billion yen, or 8%, from the same period of the previous fiscal year and ordinary income of 54.5 billion yen, an increase of 15.8 billion yen, or 41%. Net income totaled 40.1 billion yen, an increase of 12.2 billion yen, or 44%, from the same period of the previous fiscal year.