Report
David Whiston, CFA, CPA, CFE
EUR 101.80 For Business Accounts Only

Toyota Raises Guidance to Start Fiscal 2018 and Announces Mazda Partnership

We are maintaining our fair value estimate after incorporating Toyota’s first-quarter fiscal 2018 results into our model. Total company operating income fell 10.6% year over year as cost-reduction efforts could not offset incentive spending, higher labor and other spending, and a JPY 35 billion foreign currency headwind. The weaker yen against the dollar provided a JPY 30 billion favorable contribution to operating profit, but a stronger yen against a variety of unnamed currencies, likely in Sou...
Underlying
Toyota Motor ADS

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
David Whiston, CFA, CPA, CFE

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