Toyota posted operating profit of 1.3 trillion yen for the quarter ended 30 June, some 0.2 trillion yen up on the same quarter of last year. Sales revenues for the quarter were up to 11.8 trillion yen (last year quarter 10.5 trillion yen, despite lower unit sales in Japan. Toyota sales in North America, Europe and Asia were up. Exchange rates – the weak yen – helped boost profits on overseas sales by as much as 0.5 trillion yen in the quarter, Toyota said.
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Sales recalls and certification issues related to safety scandals at Daihatsu depressed sales in Japan.
“Despite the inability to maintain stable production in Japan due to factors such as certification issues and recalls, we achieved an increase in profit thanks to the support of all our stakeholders,” Toyota said in a statement.
The full-year forecast remains unchanged from the previous forecast.
The Japanese government has ordered Toyota to make “drastic reforms” after discovering new violations in the automaker’s vehicle certification procedures.
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By GlobalDataToyota ordered to make “drastic reforms”
