TOKYO -- Toyota Motor Corp. smashed earnings records across the board in the latest fiscal year, racking all-time highs for revenue, operating profit and net income even as it battled the ongoing COVID-19 pandemic and global semiconductor shortage.
Operating profit climbed 36 percent to 3 trillion yen ($24.61 billion) in the fiscal year ended March 31, topping the previous high from the fiscal year ended March 31, 2016. Toyota booked a robust operating profit margin of 9.5 percent, up from 8.1 percent the year before.
In announcing its earnings results on Wednesday, the world’s largest automaker said full fiscal year net income increased 27 percent to 2.85 trillion yen ($23.38 billion), while revenue grew 15 percent to 31.38 trillion yen ($257.42 billion). Both those totals chalked new records for Toyota as well.