Toyota’s financing service reports 30% increase in assets

Toyota Financial Services Philippines Corp. (TFSPH) reported a nearly 30-percent increase in assets, reaching P58.7 billion in the fiscal year ending March this year, keeping its position as the country’s top leasing company.

In a statement Monday, TFSPH said total assets increased 29.8 percent from the P45.3 billion posted a year ago. This, the company said, included a P15.6-billion increase in loan receivables for the period.

The company, which serves the financing and leasing needs of Toyota customers in the country, said gross income reached P4.2 billion at the end of the recent fiscal year, up 25.5 percent from P3.3 billion previously.

Net interest income also increased, reaching P2.3 billion, a 28 percent climb from the previous 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,” said TFSPH president Atsushi Murakami.

TFSPH, which has been operating in the country for over 15 years now, said it would be expanding its business centers in the last quarter of 2017. It said it planned to open in Davao and in South Luzon.

The company said it has already established business centers in San Fernando, Pampanga and Cebu City, City.

TFSPH is part of Toyota’s network of sales finance companies under Toyota Financial Services Corporation (TFSC), which operates in over 36 countries worldwide.

The Philippine office is 60-percent owned by TFSC, while the remaining shares have been held by conglomerate GT Capital Holdings Inc. since Sept. 2014.