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Sep 30, 2025
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Toyota Q2 2026 Earnings Report
Toyota reported solid Q2 FY2026 results despite a decline in operating income due to tariff pressures.
Key Takeaways
Toyota's Q2 FY2026 earnings showed resilience, with revenue and vehicle sales growth offsetting operating margin pressure. Net income remained strong amid global challenges.
Revenue reached ¥12.38 trillion in Q2 FY2026, up from ¥11.44 trillion year-over-year.
Net income rose to ¥932 billion, a significant improvement over ¥573.7 billion in the same quarter last year.
Operating income declined to ¥839.5 billion from ¥1.16 trillion due to tariff impact and higher costs.
Vehicle sales increased to 2.814 million units globally in the quarter.
Revenue by Geographic Location
Forward Guidance
Toyota raised its FY2026 revenue and profit forecasts, expecting higher sales volumes and improved operational efficiency, though macroeconomic and tariff-related challenges remain.
Positive Outlook
- Revenue forecast raised from ¥48.5T to ¥49.0T
- Operating income forecast increased from ¥3.2T to ¥3.4T
- Net income forecast increased from ¥2.66T to ¥2.93T
- Retail vehicle sales guidance raised to 11.3 million units
- Electrified vehicle volume forecast increased slightly
Challenges Ahead
- Continued pressure from U.S. tariffs affecting profitability
- Increased labor and R&D costs
- Forex headwinds expected in H2 FY2026
- Higher material and logistics costs weighing on margins
Historical Earnings Impact
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Avg. Return Before/After Earnings
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