Lifted by strong sales in the United States and a weaker yen, Toyota Motor raised its profit forecast for the full financial year.
Get the facts and figures for the quarter and full-year projection.
Lifted by strong sales in the United States and a weaker yen, Toyota Motor raised its profit forecast for the full financial year by 10 percent to ¥860 billion on Tuesday as the company, the world’s largest automaker, charts a return to profit levels it has not seen in years.
Toyota said net profit had come to ¥99.9 billion, or $1.1 billion, in the three months through December, a 23.5 percent increase from the same period a year earlier, when the effects of the Japanese tsunami still weighed on its business.
Sales for the quarter climbed 26 percent from a year earlier to ¥16.2 trillion, helped by a surge of almost 50 percent in sales of the company’s fuel-efficient vehicles in the United States.