TOKYO, May 8 (Bernama-Xinhua) -- Toyota Motor Corp said Wednesday it saw a record net profit of 4.94 trillion yen (US$31.82 billion) for the fiscal year of 2023, citing robust demand and the yen's depreciation, reported Xinhua.
The figure doubled from the previous fiscal year, while the operating profit almost doubled from a year earlier to 5.35 trillion yen during the fiscal period from April 2023 to March 2024, the company said in its latest financial results.
According to local media reports, Toyota became the first Japanese company to top the 5-trillion-yen mark in operating profit for fiscal 2023.
The Japanese automaker reported a record 45.1 trillion yen in sales, up 21.4 per cent from a year ago.
Citing the popularity of hybrid cars, the company said its group vehicle sales, including those of its subsidiaries Daihatsu Motor Co and Hino Motors Ltd, rose 5.0 per cent to 11.09 million units.
Toyota expected its net profit to decline 27.8 per cent to 3.57 trillion yen for the current fiscal year ending next March, with a 2-per cent rise in sales.
Its planned global sales are downgraded to 10.95 million vehicles worldwide for the year, down 1.3 per cent from the previous year, the company said. (US$1 equals 155.23 Japanese yen).
-- BERNAMA-XINHUA
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