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Toyota Motor Corp ADR TM Stock Quote

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Morningstar‘s Stock Analysis TM

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Sharp Cost Increases Cancel Out Toyota's Foreign Exchange Benefit in Its Fiscal Second Quarter

Analyst Note

| David Whiston, CFA, CPA, CFE |

Toyota’s fiscal 2023 second quarter saw large competing headwinds and tailwinds with the headwinds winning and sending operating margin down 380 basis points year over year to 6.1%. We are leaving our yen fair value estimate in place, but a much weaker yen against the U.S. dollar since our last update causes the translation of our yen model to dollars to yield a fair value estimate of $157, down from $171. We now translate our yen fair value estimate at JPY 148.19 to the dollar compared with JPY 136.10 previously.

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Key Statistics TM

Company Profile TM

Business Description

Founded in 1937, Toyota is one of the world's largest automakers with 10.38 million units sold at retail in fiscal 2022 across its light vehicle brands. Brands include Toyota, Lexus, Daihatsu, and truck maker Hino; market share in Japan is about 51%, while U.S. share is nearly 15.5%. The firm also owns large stake in Denso, a parts supplier, about 20% of Subaru, and holds investments in many other firms, including shares of Uber Technologies, Joby Aviation, DiDi Global, Aurora Innovation, and about 5% in each of Mazda and Suzuki. Fiscal 2022 sales excluding financial services were JPY 29.1 trillion. Toyota also has a financing arm and manufactures homes and boats.

1 Toyota-cho, Aichi Prefecture
Toyota, 471-8571, Japan
T +81 565282121
Industry Auto Manufacturers
Most Recent Earnings Sep 30, 2022
Fiscal Year End Mar 31, 2023
Employees 376,971

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