Toyota operating margin sets a new record

Reuters referred to Toyota’s Q4 results as ‘blockbuster’ and it was certainly a strong performance as operating profit rose 77% to ¥1,113bn. However, the 10% operating margin in Q4 made it the weakest quarter of Toyota’s 2023/24 year, following margins of 10.6% in Q1, 12.6% in Q2 and 14% in Q3.

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