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Old 05-12-2006, 06:48 AM
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Default Toyota Reports Record Year-End Results

TOYOTA MOTOR CORPORATION (TMC) announced operating results for the fiscal year ended March 31, 2006.

On a consolidated basis, net revenues for the twelve months ended March 31, 2006, increased 13.4 percent year-on-year to 21.03 trillion yen. Operating income reached 1.87 trillion yen, an increase of 206 billion yen, or 12.3 percent, over the previous fiscal year. Net income increased 17.2 percent to 1.37 trillion yen, representing the third consecutive year in which net income exceeded one trillion yen. All of these figures marked record highs.

Positive contributions to operating income included 300.0 billion yen from the positive effects of changes in exchange rates, 240.0 billion yen from marketing efforts and 130.0 billion yen from cost reduction efforts. These gains offset the negative effects of an increase in expenses of 307.3 billion yen and effect of special factors of 156.5 billion yen.

Commenting on the results, TMC President Katsuaki Watanabe said, "Earnings trended upwards in the latter half of the fiscal year, resulting in positive year-on-year growth for the entire year. Although the effects of foreign currency exchange rates were contributing factors, Toyota's performance demonstrated the strength of our company's ongoing operational efforts."

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