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Japan's Toyota reports hefty profit on cheap yen and solid car sales
['Abc News']
ABC News: Business
Quarterly sales rose 10% year on year to 13.5 trillion yen ($85 billion).
A cheap yen raises the value of overseas earnings for Japan’s giant exporters like Toyota Motor Corp.
The favorable currency effect added 345 billion yen ($2.2 billion) to Toyota’s quarterly operating profit in the April-June period.
Toyota is projecting a 3.25 trillion yen ($20.6 billion) profit for the full fiscal year through March 2027, not as good as the 3.85 trillion yen ($24 billion) profit racked up the previous fiscal year.
Annual sales are forecast at 54 trillion yen ($342 billion), better than the 50.7 trillion yen for the previous fiscal year that ended in March.