Toyota (7203.T) nearly doubled its operating profit in the first quarter, the Japanese automaker said on Tuesday, helped by increased sales and productivity as well as the tailwind from the weaker yen.
“Sales volumes across all regions increased compared to the same period a year earlier due to productivity improvement efforts made together with suppliers,” the company said in its earnings announcement.
The world’s top-selling automaker said operating profit for the three months through June totalled 1.12 trillion yen ($7.85 billion), an increase of 94% from a year earlier, beating the average 945.22 billion yen profit estimate in a poll of 10 analysts by Refinitiv.
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