Toyota Motor Corp. hit a new operating profit high in the business year ended March 31, helped by a weaker yen and record sales that made it the first car maker to sell more than 10 million vehicles in a year.
Toyota said Thursday its operating profit surged 74% to Yen2.29 trillion ($22.5 billion) in the 12-month period, breaking a record set six years ago just before the global financial crisis took the bottom out of the global car market. Thursday's result compares with operating profit of Yen1.32 trillion in fiscal 2012.
The auto maker also sees another record-breaking year in the 12 months to March 2015, forecasting operating profit of Yen2.3 trillion on revenue of Yen25.7 trillion.
A recovery in the U.S. market and solid sales in Asia are expected to outweigh the loss of any further help from a weaker yen and a sales fall in Japan following the raising of the national sales tax.
Toyota said Thursday its operating profit surged 74% to Yen2.29 trillion ($22.5 billion) in the 12-month period, breaking a record set six years ago just before the global financial crisis took the bottom out of the global car market. Thursday's result compares with operating profit of Yen1.32 trillion in fiscal 2012.
The auto maker also sees another record-breaking year in the 12 months to March 2015, forecasting operating profit of Yen2.3 trillion on revenue of Yen25.7 trillion.
A recovery in the U.S. market and solid sales in Asia are expected to outweigh the loss of any further help from a weaker yen and a sales fall in Japan following the raising of the national sales tax.