Toyota Industries reports 23% operating profit decline

Toyota Industries Corporation reported consolidated net sales of 990.5bn yen for Q1 FY2026, down 3.4% year-on-year. Operating profit fell 22.8% to 52.4bn yen, while net profit decreased 7.9% to 102.4bn yen.

The decline was attributed to increased labor costs, exchange rate fluctuations, and US tariffs, despite gains from subsidiary share sales. The automobile segment saw operating profit drop 74% despite 1% sales growth, while materials handling equipment sales fell 5%.