Founded in 1973, Japan-based Toyota Motor Corporation is one of the leading automakers in the world in terms of sales and production. Its product portfolio consists of a full range of models from passenger cars and minivans to trucks as well as related parts and accessories. Apart from combustion-engine vehicles, the company is also working on fuel cell and automated vehicles. It plans to offer a committed electrified model or an electrified option for customers of Toyota or Lexus models by 2025. The company’s operations are classified into three segments — Automotive (91% of net revenues from external customers in fiscal 2023), Financial Services (7.5%) and All Other (3.3%).

Toyota’s Automotive business caters to its domestic market as well as markets in North America, Europe, Asia and other regions that include the Middle East. Toyota has R&D centers across the United States, Japan, China and Europe that are used to develop advanced and upgraded vehicles. Further, the company has several manufacturing facilities across the globe that produces vehicle brands — including Toyota, Lexus, Hino and Daihatsu as well as automobile components.

Toyota’s Financial Services business primarily finances dealers and customers for the purchase or lease of Toyota vehicles. The business also offers retail leasing through the purchase of lease contracts originated by Toyota dealers.

Toyota’s All Other business segment comprises the design and manufacture of prefabricated housing and information technology-related businesses, including an e-commerce platform called GAZOO.com.

In fiscal 2023, Toyota’s consolidated retail unit sales totaled 10,558,000 units, marking an increase from 10,381,000 units sold in fiscal 2022. The automaker’s vehicle sales in all the major end markets served increased on a year-over-year basis.

During the fiscal year, Toyota’s revenues rose 18.4% year over year to ¥37 trillion. However, the company’s operating income declined 9% year over year to ¥2.7 trillion.