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Toyota Motor Corp said on Tuesday its net profit in the April-to-June quarter grew 4.6 per cent from a year earlier to ¥587.7 billion ($5.7 billion) due to a weaker yen and cost-reduction measures.
The world’s largest carmaker also posted an operating profit of ¥692.7 billion in the quarter, up 4.4 per cent from the same period last year. Sales rose 2.2 per cent to ¥6.39 trillion.
Toyota maintained its net profit outlook at ¥1.78 trillion and operating profit forecast at ¥2.3 trillion for the financial year to March 2015, while sales were predicted at ¥25.7 trillion.
“In addition to cost reduction efforts and favourable foreign exchange rates, valuation gains and losses mainly from interest-rate swaps were positive factors. However, changes in model mix and increases in expenses impacted us negatively,” company managing officer Takuo Sasaki said in a statement.
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