TOKYO: Japanese car giant Toyota on Thursday reported gains in net profit and sales for the nine months to December thanks to cost-cutting efforts, and upgraded its full-year profit forecasts.
While the maker of the Camry sedan and Prius hybrid unveiled upbeat earnings and forecasts, analysts were closely watching the impact of the new coronavirus in China, where the firm has suspended operations at more than 10 plants.
Toyota said net profit for April-December jumped 41.4 percent from a year earlier to ¥2.0 trillion ($18 billion) with sales up 1.6 percent at ¥22.8 trillion.
The company revised upward its full-year profit forecast, now projecting a net profit of ¥2.35 trillion for the fiscal year to March, compared with its earlier estimate of ¥2.15 trillion, thanks to foreign exchange gains.
Its operating profit is now forecast at ¥2.5 trillion, from ¥2.4 trillion estimated earlier, while its sales outlook remained unchanged at ¥29.5 trillion.
Toyota logs nine-month profit gain, upgrades annual forecasts
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Toyota logs nine-month profit gain, upgrades annual forecasts
- Analysts closely watching the impact of the new coronavirus in China, where Toyota has suspended operations at more than 10 plants
Closing Bell: Saudi main index extends gains as market opens wider to foreign investment
RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Monday, gaining 153.61 points, or 1.38 percent, to close at 11,321.09.
The total trading turnover of the benchmark index was SR5.85 billion ($1.56 billion), as 207 of the listed stocks advanced, while 55 retreated.
The MSCI Tadawul Index increased, up 21.20 points or 1.41 percent, to close at 1,524.18.
The Kingdom’s parallel market Nomu gained 278.13 points, or 1.17 percent, to close at 24,013.03. This comes as 43 of the listed stocks advanced, while 29 retreated.
The best-performing stock was Saudi Pharmaceutical Industries and Medical Appliances Corp., with its share price surging by 7.26 percent to SR28.94.
Other top performers included Rasan Information Technology Co., which saw its share price rise by 6.51 percent to SR144, and Knowledge Economic City, which saw a 6.25 percent increase to SR13.09.
On the downside, the worst performer of the day was Najran Cement Co., whose share price fell by 2.11 percent to SR6.49.
Almasane Alkobra Mining Co. and Saudi Cable Co. also saw declines, with their shares dropping by 2 percent and 1.88 percent to SR103.10 and SR166.80, respectively.
On the announcement front, Riyad Bank has announced its annual financial results for 2025, with the total income from special commission of financing reaching SR24.1 billion, while net income from special commission of financing amounted to SR12 billion.
In a statement on Tadawul, the bank said: “Net income increased by 11.7 percent mainly due to an increase in total operating income and a decrease in total operating expenses.”
The bank further noted that the rise in total operating income was primarily driven by increased revenue from fees and commissions, trading activities, special commissions, gains on non-trading investments, and other operating sources. This growth was partially tempered by declines in exchange and dividend income.
“Net provision of expected credit losses and other losses decreased by 15.8 percent due to a decrease in impairment charge of credit losses and impairment charge for other financial assets, partially offset by an increase in impairment charge for investments,” it added.
RIBL’s share price closed at SR18.18 on the main market, marking a 1.43 percent increase.
