TOYOTA CITY, Japan -

Citing gains in emerging markets, Toyota Motor Corp. recently announced significant financial strides in net revenue, operating income and net income for the nine-month span that ended Dec. 31.

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On a consolidated basis, the automaker determined net revenues for the first three quarters of its fiscal year totaled 14.351 trillion yen, an increase of 5 percent compared to the same period of its last fiscal year.

Toyota calculated that its operating income increased from 52.2 billion yen to 422.1 billion yen, while income before income taxes and equity in earnings of affiliated companies came in at 521.7 billion yen.

During this span, the company’s net income increased from 97.2 billion yen to 382.7 billion yen.

Executives found the 369.9 billion yen jump in operating income mainly arrived as as a result of a large increase in vehicle sales in emerging markets and continued cost reduction, including company-wide VA activities. They mentioned factors for the increase include 570.0 billion yen due to marketing efforts and 120.0 billion yen due to cost-reduction efforts.

Toyota also revealed its consolidated vehicle sales for the nine months amounted to 5.517 million units, an increase of 322,000 units compared to the same period of its last fiscal year.

Strong vehicle sales, especially in emerging markets such as Asia, Central and South America, and Africa, contributed to the increase in operating income in the nine-month period,” TMC senior managing director Takahiko Ijichi explained.

“These regions are now increasingly representing one of the pillars supporting our earnings,” Ijichi continued.

Concerning operating income by region, Toyota asserted that it achieved a year-on-year improvement in all regions for the first nine months of its fiscal year.

In Japan, the company found its operating loss improved by 49.3 billion yen to a loss of 174.4 billion yen.

In North America, the automaker’s operating income increased by 144.5 billion yen to 251.1 billion yen, including 14.3 billion yen of valuation gains/losses on interest rate swaps. Management also revealed operating income — excluding the impact of valuation gains/losses on interest rate swaps — climbed by 155.1 billion yen to 236.8 billion yen.

Over in Europe, Toyota said its operating loss improved by 33.3 billion yen to a loss of 6.7 billion yen.

Elsewhere in Asia, the OEM’s operating income moved higher by 100.2 billion yen to 232.8 billion yen.

And in Central and South America, Oceania and Africa, Toyota learned its operating income increased by 37.2 billion yen to 117.2 billion yen.

In the financial services segment, Toyota announced its operating income increased by 95.1 billion yen compared to the same period last fiscal year to 300.1 billion yen. The company indicated the figure included 24.1 billion yen of valuation movement from interest rate swaps.

Excluding valuation gains and losses, the company’s financial services segment enjoyed an operating income increase of 99.3 billion yen to 276.0 billion yen. Officials attributed the increase to higher earnings as a result of decreased expenses related to loan losses, residual losses and increased lending balance mainly in the United States.

Reflecting these results, Toyota revised its consolidated vehicle sales for the full-fiscal year that ends March 31 from 7.41 million to 7.48 million units, an increase of 70,000 units from the automaker’s forecast announced last November.

Also, the company moved its consolidated net revenues and earnings forecasts for the fiscal year higher. The consolidated net revenue prediction now stands at 19.2 trillion yen with operating income of 550.0 billion yen, income before income taxes and equity in earnings of affiliated companies of 660.0 billion yen and net income of 490.0 billion yen.

“In addition to an improving vehicle-sales outlook in Japan, Asia and Russia, the progress of our company-wide profit improvement activities, such as further reduction of variable costs and control over fixed costs, has exceeded our earlier expectations,” Ijichi surmised

“As a result, we now expect to overcome the rapid and acute yen appreciation and achieve a substantial increase in operating income. One can therefore see that our earnings are firmly recovering,” Ijichi concluded.