Toyota Motor Corporation (TMC) has released its financial results for the first quarter ending June 30, 2025. The company reported consolidated vehicle sales of about 2,411,000 units, an increase of approximately 159,000 units compared to the same period last year. Net revenues reached 12.253 trillion yen ($84.5 billion), up by 3.5%. However, operating income declined from 1.308 trillion yen ($8.4 billion) to 1.166 trillion yen ($8.0 billion). Income before income taxes was recorded at 1.252 trillion yen ($8.6 billion), and net income dropped from 1.333 trillion yen ($8.5 billion) to 0.841 trillion yen ($5.8 billion).
In North America, vehicle sales rose to around 794,000 units, up by 89,000 units from the previous year. Operating income in this region, excluding valuation gains or losses from interest rate swaps, decreased by 164.3 billion yen ($1.1 billion) to -63.6 billion yen ($-438 million).
Japan saw vehicle sales reach about 481,000 units with an increase of 60,000 units over last year’s figures. Operating income in Japan fell by 241.8 billion yen ($1.66 billion) to a total of 643.4 billion yen ($4.4 billion).
In Europe, sales totaled roughly 298,000 vehicles—an increase of about 7,000 units—while operating income dropped by 26.4 billion yen ($182 million) to stand at 974.0 billion yen ($671 million).
Asia experienced a decrease in vehicle sales by about 15,000 units to a total of approximately 421,000 vehicles sold during the quarter; operating income in Asia also declined by 23.9 billion yen ($164 million) to reach 220.7 billion yen ($1.5 billion).
Other regions—which include Central and South America, Oceania, Africa and the Middle East—reported combined vehicle sales of around 417,000 units (up by approximately 19,000). Operating income for these regions increased by about 64.8 billion yen ($446 million), totaling at roughly 98.4 billion yen ($678 million).
Financial services operating income increased by about 19 billion yen ($131 million) to 188 billion yen ($1.3 billion). Including valuation gains and losses from interest rate swaps brought operating income up further by an additional amount for a total of 222.2 billion yen ($1.5 billion).
For the fiscal year ending March 31, 2026—and based on an exchange rate assumption of 145 yen per U.S dollar—TMC forecasts consolidated vehicle sales will be 9.80 million units; net revenue is projected at 48.5 trillion yen ($334 .5 billion), with operating income estimated at 3 .2 trillion yen ($22 .1 billion), income before taxes expected at 3 .87 trillion yen ( $26 .7 billion ), and net income forecasted at 2 .66 trillion yen ( $18 .3 billion ).
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