Toyota has boosted its speed on recent yen depreciation, and after nearly doubling its earnings in the recent quarter, it has revised upwards its full-year financial results forecast. On the other hand, expectations on sales volumes were confirmed, which for the year ending at the end of March 2014 indicate 9,1 million vehicles.
Based on a report of a dollar exchange rate at 92 yen, Toyota estimates 2013-2014 revenues of 24.000 trillion yen, 182,4 billion, and net income of 1,48 billion yen, or 11,3, XNUMX billion euros.
The second quarter, ie the first of the current fiscal year, closed with a turnover of 6.255 billion yen, up 13,7 percent in comparison on an annual basis. Operating profit rose to 663,3 billion yen from 353,1 billion a year earlier while net profits rose 93,6 percent to 562,1 billion. Managing director Takuo Sasaki claimed that the jump in earnings reflects both the effects of foreign exchange and those of cost-cutting and efficiency-enhancing measures put in place.
