Toyota raises '13 profit outlook to 2.4 trillion yen
Toyota Motor Corp. has reportedly raised its operating profit outlook for fiscal 2013 to a record 2.4 trillion yen from its earlier profit stance estimated at 2.2 trillion yen.
The rise in its group operating profit projection for fiscal 2013 through March is said to be the result of yen's slide and cost-cutting steps.
While the automaker raised its group net profit estimate for the business year to 1.9 trillion yen, Toyota benefitted from the yen's depreciation, as its operating profit rose by 40 billion yen for every 1 yen decline against the dollar, the Japan Times reported.
According to the revised projections, the dollar will now be assumed as being equivalent to an average 100 yen in the full business year.
(Posted on 06-02-2014)