Toyota leasing arm earns 25% more in fiscal 2017

MANILA, Philippines — Toyota Financial Services Philippines Corp. (TFSPH) earned 25.5 percent more in its fiscal year 2017 ending March as it maintained its position as the top leasing company in the country.

TFSPH said yesterday its gross income went up to P4.2 billion from P3.3 billion the previous year.

The firm’s net interest income likewise soared 28 percent to P2.3 billion from last year’s P1.8 billion.

 “At present, TFSPH has over 90,000 customers and over P50 billion earning assets as we continue to be the No. 1 leasing company in the country,” TFSPH president Atsushi Murakami said.

TFSPH recorded total assets of P58.7 billion in its fiscal year 2017, a 29.8 percent improvement from the P45.3 billion posted a year ago. This included a P15.6 billion increase in loan receivables for the period.

Now on its 15th year, TFSPH said the company is poised to grow even stronger in the coming years.

“With the increasing market share and growth of TFSPH these past years, we are geared to accelerate towards more achievements and milestones,” Murakami said.

“TFSPH affirms its mission to always be your excellent business partner by being reliable in delivering performance as we have committed,” he added.

TFSPH chairman Carmelo Maria Luza Bautista said the company’s growth over the past 15 years has been extraordinary.

TFSPH has expanded its nationwide presence with new business centers established in San Fernando, Pampanga and Cebu City.

The expansion will continue with business centers set to open in Davao and South Luzon in the last quarter of the year.

“Its financial strength and strategic position will allow it to continue being one of the dominant players in the auto financing sector,” Bautista said.

TFSPH is part of Toyota’s network of sales finance companies under Toyota Financial Services Corp. that operates in over 36 countries worldwide.

The firm is mandated to support Toyota sales in the Philippines in line with the global objectives of Toyota Motor Corp. of Japan.