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34 TOYOTA •Annual Report 2008 •
Business Overview
At a Glance
Automotive Operations
Net revenues ¥24,177.3 billion (+10.3%)
Operating income ¥2,171.9 billion (+6.5%)
In fiscal 2008, net revenues increased 10.3%, to ¥24,177.3 billion, with
strong vehicle sales in resource-rich and emerging countries such as Asia,
Central and South America, Oceania, and Africa, helping to offset
stagnant sales in Japan. Operating income was up 6.5%, to ¥2,171.9
billion, mainly due to increases in both production volume and vehicle
unit sold, and cost reduction efforts, partially offset by an increase
in expenses.
Financial Services Operations
Net revenues ¥1,498.3 billion (+15.2%)
Operating income ¥86.5 billion (-45.4%)
In fiscal 2008, net revenues grew 15.2%, to ¥1,498.3 billion, due to
aggressive efforts to expand auto sales financing. Meanwhile despite
a steady increase in financing volume, operating income decreased
45.4%, to ¥86.5 billion, due to an increase in valuation losses on interest
rate swaps by ¥48.1 billion stated at fair value by sales finance subsidiaries.
Other Business Operations
Net revenues ¥1,346.9 billion (+1.8%)
Operating income ¥33.0 billion (-16.6%)
In fiscal 2008, net revenues were up 1.8%, to ¥1,346.9 billion. Operating
income decreased 16.6%, to ¥33.0 billion, due primarily to weak sales in
the housing business.
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Note: Fiscal years ended March 31