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Toyota inks deal as global Olympic sponsor

Toyota has just scored a sponsorship with one of the biggest events on the planet – the Olympic Games. The company announced its position as a member of the TOP (The Olympic Partner) program, which takes effect in Japan next year and globally in 2017. The deal is slated to run through 2024. That means, if we're understanding the deal correctly, that we won't see as much official Toyota sponsorship at next year's Summer Olympics in Rio de Janeiro, while the company will enjoy a much more visible presence among American consumers at the 2018 Winter Olympics in Pyeongchang, South Korea. Unsurprisingly, the automotive giant's sponsorship will be in the mobility category, covering "vehicles, mobility services and mobile solutions," the company's press release said. Fuel cells are expected to play a big role. "We will do everything possible to fulfill our new role in The Olympic Partner program, and justify the trust the IOC has placed in us. The addition of a mobility category to the TOP Partner field is an important recognition for our entire industry," Toyota president Akio Toyoda said in a statement. "Under this Olympic flag, let us today reaffirm the power of sports to bring people together. And let us dedicate ourselves to creating a better world by promoting sports in the Olympic spirit of friendship, solidarity and fair play." "The IOC welcomes Toyota as a key partner for the provision of sustainable mobility solutions for the Olympic Games as outlined in Olympic Agenda 2020, our strategic roadmap for the future of the Olympic Movement," International Olympic Committee president Thomas Bach said. "Toyota is the world leader in its field, and this partnership signifies a strong commitment to the future of the IOC and the Olympic Movement. This is a milestone agreement in the implementation of Olympic Agenda 2020 because the focus of our cooperation is sustainable mobility, and Toyota will provide sustainable solutions for the entire Olympic Movement." Check out the official press release. Toyota Becomes IOC TOP Partner Tokyo, Japan, March 13, 2015-Toyota Motor Corporation (Toyota) today announced it has entered into a sponsorship agreement with the International Olympic Committee (IOC) to become part of The Olympic Partner (TOP) program. The agreement runs through to the end of 2024 in the mobility category, which includes vehicles, mobility services and mobility solutions.

Toyota projecting record profits, thanks in part to weak yen

Toyota retained its global sales crown in 2014 by selling 10.23 million cars in the calendar year. As the positive number might suggest, the Japanese automaker is doing extremely well financially, too. Although, some tougher times might be on the horizon. Toyota recently released its financial figures for the three fiscal quarters running from April 1 through the end of December 2014. Net profit jumped an impressive 13.2 percent to 1.727 trillion yen ($14.7 billion) for that period. It could be the Japanese automaker's most profitable time ever when the fiscal year ends in March, if things keep going this way, according to The New York Times. Toyota's own profit forecast for the 12-month period is also up by 130 billion yen ($1.1 billion) to 2.13 trillion yen ($18.1 billion). One key to the company's success is the low value of the Japanese yen, because it allows Toyota to make more money on each vehicle the company sells abroad. The currency is now worth relatively less than any time since the early '70s, according to The New York Times. Despite the rosy financial numbers, actual sales have started to fall, albeit a very slight amount. Through the three fiscal quarters, the company sold 6.73 million cars, a drop of just 45,365 vehicles. Toyota also reduced its forecast for the fiscal year to 9 million units, rather than the original estimate of 9.05 million. According to The New York Times, the shrinking Japanese auto market and difficulty in China might mean losing the global sales lead next year. For the US, sales jumped 145,411 units from April through December to a total 2.1 million vehicles. Operating income reached $4.27 billion, nearly 50 percent more than last year, according to The New York Times. Toyota Motor Corporation (TMC) Announces April – December 2014 Financial Results February 04, 2015 Toyota's global net income jumped 13.2 percent during the nine-month period (April 1– December 31, 2014) of the 2015 fiscal year. Global Financial Highlights: Global sales decreased by 45,365 vehicles to 6.73 million, with strong sales in North America and gains in Europe, offsetting decreases in Japan and other regions.

Japan could consolidate to three automakers by 2020

Sergio Marchionne might see his dream of big mergers in the auto industry become a reality, and an analyst thinks Japan is a likely place for consolidation to happen. Takaki Nakanishi from Jefferies Group LLC tells Bloomberg the country's car market could combine to just three or fewer major players by 2020, from seven today. "To have one or two carmakers in a country is not only natural, but also helpful to their competitiveness," Nakanishi told Bloomberg. "Japan has just too many and the resources have been too spread out. It's a natural trend to consolidate and reduce some of the wasted resources." Nakanishi's argument echoes Marchionne's reasons to push for a merger between FCA and General Motors. Automakers spend billions on research and development, but their competitors also invest money to create the same solutions. Consolidating could conceivably put that R&D money into new avenues. "In today's global marketplace, it is increasingly difficult for automakers to compete in lower volume segments like sports cars, hydrogen fuel cells, or electrified vehicles on their own," Ed Kim, vice president of Industry Analysis at AutoPacific, told Autoblog. Even without mergers, these are the areas where Japanese automakers already have partners for development. Kim cited examples like Toyota and Subaru's work on the BRZ and FR-S and its collaboration with BMW on a forthcoming sports car. Honda and GM have also reportedly deepened their cooperation on green car tech. After Toyota's recent buyout of previous partner Daihatsu, Nakanishi agrees with rumors that the automotive giant could next pursue Suzuki. He sees them like a courting couple. "For Suzuki, it's like they're just starting to exchange diaries and have yet to hold hands. When Toyota's starts to hold 5 percent of Suzuki's shares, this will be like finally touching fingertips," Nakanishi told Bloomberg. "I absolutely do believe that we are not finished seeing consolidation in Japan," Kim told Autoblog. Rising development costs to meet tougher emissions regulations make it hard for minor players in the market to remain competitive. "The smaller automakers like Suzuki, Mazda, and Mitsubishi are challenged to make it on their own in the global marketplace. Consolidation for them may be inevitable." Related Video: