Toyoda Gosei FY 2023–24 net profit triples to $339.9 million on higher revenue

Forecasts lower revenue and earnings in fiscal year 2024–25

Toyoda Gosei’s net profit tripled to ¥51.4 billion ($339.9 million) in the financial year ended March 31, 2024, as revenue increased 12.5% year over year to ¥1.1 trillion, the Japanese supplier said in a press release. The company attributed higher revenue to increased vehicle production by its customers in Japan and Americas. Higher revenue also helped Toyoda Gosei to record 93.1% year-over-year operating profit to ¥67.7 billion.