Toyota Korea and Nissan Korea reduced last year’s losses significantly thanks to the depreciation of Yen.

Based on the ‘2013 Auditor’s Report’ submitted to the Financial Supervisory Service, both Toyota and Lexus brands, combined, registered 13,863 units in sales, up 18.4% over the previous year with a turnover of 443 billion won, up 20.4%.

Toyota Korea last year sold 9.0% more Lexuses, or 5,425 units, while Toyota brand showed 31% plunge at 7,438 units due to slackened sales of Camry model.

But the operating loss registered a little improvement by 3.2% to 12.2 billion won from the previous year’s 12.6 billion won, while the net loss by 5.4% to 10.6 billion won from the previous 11.2 billion won.

The major reason of such an improvement of businesses in spite of reduced turnover is the reduced costs for purchase of products thanks to weak Yen, and also sharp decrease of administrative costs, such as selling charges.

Toyota Korea’s administrative costs last year were 75.8 billion won, which is less 20 billion over the previous year, while advertising expenses were 21.6 billion won, less 13.5 billion.

Toyota Korea registered the largest loss in 2011, registering minus 24.6 billion won, and then has been reducing the red figures to 11.2 billion won in 2012, and then 10.6 billion in 2013.

Nissan Korea also improved its businesses significantly with sales hike last year.

Last year’s total sales of both Nissan and Infiniti brands in Korea stood at 4,177 units, up 19.3% over the previous year of 3,501 units, registering 29.6% higher turnover at 146,6 billion won.

Accordingly, the total profit quadrupled to 24.8 billion won, while business loss was reduced to 6.6 billion won from 26.7 billion of the previous year, and net loss to 10.2 billion won from 32 billion.

Nissan Korea’s administrative costs also fell by 1.2 billion won to 31.5 billion won, and advertising costs by 3.8 billion won to 14.4 billion.

Nissan Korea however has an accumulated loss of 161.6 billion won due to the 6-consecutive year red figures since 2007.

But entering this year, the big popularity of Infiniti Q50 has attributed to the 88% increase of sales for the first six months this year at 3.450 units, and its turning to profit in seven years is expected.