Toyota Motor's (TYO:7203) vehicle subscription service unit Kinto saw its operating profit more than double in fiscal 2025, on strong demand and a buoyant used-car market in Japan, Nikkei Asia reported Friday.
According to Kinto, its operating profit jumped to 1.45 billion yen in the year ended March, with revenue up 32% to 77.3 billion yen. The net profit nearly quadrupled to 3.02 billion yen, aided mainly by tax adjustments.
During fiscal 2025, the company received about 34,000 new subscription applications, bringing the cumulative applications since its launch in 2019 to more than 170,000.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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