The Japanese automaker Toyota reported on Friday a 32 percent increase in profit for the first quarter of its fiscal year compared to the same period last year.
Net profit during this period reached 491.54 billion yen (4.12 billion dollars), šmarking its highest quarterly level to date, the company announced in its statement. The reasons for Toyota’s strong performance include rapidly growing overseas sales revenue and a weak yen exchange rate. The company’s operating profit for the quarter increased by 31.8 percent year-on-year, reaching 675.43 billion yen. Revenue rose by 15.7 percent to 6,520 billion yen."We achieved significant growth in revenue and profit, šwhich are our best quarterly results ever recorded," said Toyota’s Senior Executive Officer Takeshi Suzuki. (H)
