Toyota profits more than double

Toyota’s recent quarterly profits figure shows an increase of more than double

By Nicole Hamer |

12:51 08 May 2013

Car maker Toyota has recently seen its profits double and then increase some more, it has come to light on Wednesday, 8^thMay, 2013. This is in regards to the three months prior to March this year.

 

The net income increased to 313billion yen (which is £2billion) for this period. This is an increase on the figure given for the same time span one year earlier – which was 121billion yen.

 

It is believed that the firm saw an increase in sales as the yen was weakening.

 

Toyota has reportedly said that the situation concerning the yen attributed to the good figures.

 

The company is hoping to make further profits over the financial year. According to reports, they have predicted a profit of 1.37trillion yen, which is an increase on the previous figure of 962billion yen.

 

Before the news regarding their profits came to light, shares for Toyota ended in Tokyo at a 1.4per cent increase.

 

Toyota, of Japan, is considered to be the world’s top-selling car maker.

 

The company, known as Toyota Motor Corporation, has its headquarters in Aichi, Japan. The firm was set-up by Kiichiro Toyoda in the late 1930s as a result of the family company, Toyota Industries.

 

Toyota Motor Corporation forms part of the Toyota Group with Toyota Industries Corporation.