Toyota is expected to post next week a full-year operating profit of $4.3 billion, almost 30% over the forecast.
Nikkei business declared Toyota will reveal next week its operating profit of 350 billion yen in the year to March 31, over the estimated 270 billion yen it gave in February, due to strong sales and a weakening yen in recent months. It is expected operating profit to surge to reach 800-900 billion yen for the current fiscal year, which would mean more than doubling on the year.
Although the company saw a huge jump, the fiscal 2011 figure would still mark a drop of 25% year-on-year, due to last year’s massive earthquake and tsunami disaster which made the company cut production. The effects of the disaster wore off by the end of 2011, giving Toyota the possibility to increase output from January. Sales of the hybrid vehicles were helped by domestic eco-car subsidies, with solid results in North America as well as in emerging markets.