The world’s biggest carmaker, Toyota, has reported a net profit of one trillion yen for the six months to the end of September as a weaker Japanese yen and cost cuts helped offset a slight decline in vehicle sales.
Commenting on the results, Toyota Executive Vice President Nobuyori Kodaira said: “In addition to the impact of the weaker yen, operating income increased due to our efforts with our suppliers and distributors for profit improvement through cost reduction and marketing activities, such as enhancement of the model mix.”
Toyota has raised its profit forecast and said expects to make a net profit of 1.67 trillion yen in the financial year to 31 March 2014, up from an earlier forecast of 1.48 trillion yen.
Kodaira said: “To achieve sustainable growth, we will continue to focus on strengthening our profit structure through continued gross profit improvement per vehicle and control of fixed costs.”
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