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Monday, 30th April 2012
In Business In Japan,

Toyota set to report $4.3 billion profit in Japan

Japan's biggest car maker Toyota Motor is set to reveal operating profits totalling $4.3 billion (£2.6 billion) when it publishes its annual results.

According to a report in the Nikkei business daily, the automobile manufacturer experienced profits amounting to 350 billion yen in the 12 months to the end of March.

The impressive performance means Toyota's profits surpassed expectations by around 30 per cent as the firm initially predicted it would make 270 billion yen, AFP reported.

However, the Nikkei report said that Toyota is hoping that profits more than double in the 2012 fiscal year, with the current results representing a fall in the region of 25 per cent following the production cuts implemented in the way of the March 11th disasters last year.

The rejuvenated performance has been attributed to a surge in sales following the end of the tsunami and earthquake-imposed restrictions, alongside the recent weakening of the yen.

Last week, Toyota was named one of the Top 50 Companies for Diversity in the DiversityInc annual awards.

Written by Susan Ballion

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