Toyota Motor is likely to report a smaller than expected operating loss for the six months to September thanks to recovering sales and a weaker yen, Japanese media reports said on Thursday.
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It is expected to report a group operating loss of JPY250bn (US$2.7bn) for the April-September first fiscal half, the Nikkei daily said. AFP noted that would be much smaller than an earlier projected loss of JPY400bn but would still be way down on the JPY582bn a year ago.
Overall H1 sales were estimated at JPY8.3 trillion, down 32% year on year, but up JPY500bn from the company’s earlier projection, the Nikkei said without naming sources. The report did not mention possible earnings on a net basis, AFP noted.
Toyota’s Prius hybrid was selling well in Japan due to government tax breaks for environmentally friendly vehicles and sales of new vehicles also grew in China and other Asian countries while falling 20-30% in North America and Europe, the daily said.
The weaker than expected yen also helped improve Toyota’s earnings.
Toyota declined to comment on the reports.
