【Earnings Preview】Toyota is eyeing an operating profit of 5 trillion yen! Will there be another upward revision due to the yen depreciation effect?

● $Toyota Motor (7203.JP)$The semiconductor manufacturing equipment related to technologies like lasers is strong, with a psychological improvement due to the recovery of NVIDIA's stock in the U.S.2月6日に2024年3月期第3四半期（4－12月）決算を発表予定。
●2024年3月期の連結業績予想は、売上高が前年度比15.7％増の43 trillion円、営業利益が65.1％増の4 trillion500 billion円、純利益が61.1％増の3 trillion950 billion円。EPSは292円2銭。足元の第3四半期（10－12月）の市場予想（1/29時点）では、売上高は11 trillion188 billion円、1株当たり純利益は84円16銭, EBIT is1 trillion353 billion円。
●想定為替レートは、通期業績見通しを上方修正した中間決算発表時に1ドル＝125円から1ドル＝141円へ変更した。しかし、第3四半期中は一時的に円高に振れたタイミングを除き、総じて想定レートより円安で推移しており、業績のさらなる上振れ余地がありそう。
●傘下のダイハツ工業、 $Hino Motors (7205.JP)$を加えた第3四半期まで（4－12月）累計のグローバル販売台数は前年同期比8.6％増の8.56 million4077台となり、11.38 million台の通期販売見通しに対して75.3％の進捗率となっている。このうちＥＶの販売台数は0.08 million6545台。中間決算発表時に通期販売見通しを0.2 million2000台から0.12 million3000台へ下方修正したが、修正後の7割程度にとどまっている。

The stock price is in excellent shape.
Amid increasing attention from overseas to Japanese stocks, Toyota Motor's stock price has been performing well. Compared to the end of 2022, the stock price has risen by over 60%.
On January 23, reaching a record high since listing of 3034 yen, considering the stock split, and the market capitalization based on closing price (48 trillion798.1 billion yen) surpassing the market capitalization recorded by dai (48 trillion672 billion yen) immediately after its listing in May 1987 during the bubble period, setting a new all-time record for domestic companies (as of January 23, Nikkei). $Nippon Telegraph & Telephone (9432.JP)$It (Toyota Motor) surpassed dai's market capitalization from the time of listing, on January 23 marking a record high of 3034 yen, considering the stock split, and the market capitalization based on closing price of 48 trillion798.1 billion yen, exceeding the market capitalization of 48 trillion672 billion yen recorded by dai in May 1987 after its listing, updating the all-time record for domestic companies (Nikkei dated January 23).Updating the all-time highest record for domestic companies.(As of January 23, as reported by Nikkei).
Bloomberg also reported on January 23 that Toyota Motor's market capitalization surpassed Tencent in China for the first time since 2016, following Taiwan's TSMC and South Korea's Samsung Electronics.It became the third largest market capitalization in Asia.reported.

Is the strategy of giving precedence to EVs over Tesla and BYD correct?
Is Toyota's medium- to long-term challenge for EV initiatives that lag behind the US, China, and others? $Tesla (TSLA.US)$Is Toyota's medium- to long-term challenge for EV initiatives that lag behind the US, China, and others? $BYD COMPANY (01211.HK)$a form of EV initiatives that have allowed precedents in the US and China.
Despite downgrading its full-year EV sales forecast from 0.22 million units to 0.13 million units at the time of the interim earnings report, Toyota Motor's global EV sales total for the cumulative period up to the third quarter (October-December) was 86,545 units, remaining at around 70% of the revised full-year sales forecast.
Toyota Motor provides a variety of choices in automobile development, not limited to EV.Adopting a "Multipathway" strategy.
Chairman Toyoda, in the self-media "Toyota Times News" uploaded on January 22nd, mentioned, "No matter how much electric vehicles (EVs) advance, they will only capture up to 30% of the market. The remaining 70% will be hybrid, fuel cell, hydrogen engine, or gasoline vehicles, which I believe will definitely remain. The market, not politics, will decide that." "