Japanese car giant Toyota reported a record full-year net profit Wednesday thanks to a weaker yen and U. S. tax cuts, but warned about the outlook for the next 12 months. The country’s top carmaker said net profit jumped 36.2 percent to 2.49 trillion yen ($23
Japanese car giant Toyota reported a record full-year net profit Wednesday thanks to a weaker yen and U. S. tax cuts, but warned about the outlook for the next 12 months.
The country’s top carmaker said net profit jumped 36.2 percent to 2.49 trillion yen ($23 billion) in April-March, but for the current year it expects that to fall 15 percent to 2.12 trillion yen.
It said sales rose 6.5 percent to a record 29.3 trillion yen despite a 0.1 percent decline in vehicle sales by unit.
Operating profit surged 20.3 percent, “mainly due to the effects of” a cheaper yen and “cost reduction efforts”, it said in a statement.
