Toyota lifts profit outlook to record high amid weak yen

But Japanese automaker tempers optimism by citing Asian market weakness

A Toyota display at the Japan Mobility Show on Oct. 25. The world's largest automaker by sales says it sold a company-record 5.2 million vehicles worldwide for the six months through September. (Photo by Mizuho Miyazaki)

SAYUMI TAKE, Nikkei staff writer

November 1, 2023 14:28 JST

Updated on November 1, 2023 20:01 JST

TOKYO -- Toyota Motor on Wednesday raised its forecast for net profit for the current fiscal year to an all-time high after achieving record global production and sales for the first half and amid the yen's continuing weakness.

The company now expects record net profit of 3.95 trillion yen ($26.1 billion) for the year through March 2024, up 61.1% from the previous year. It had formerly forecast full-year net profit of 2.58 trillion yen. Operating profit is estimated to come to 4.5 trillion yen, up 65.1%, while revenue is seen at 43 trillion yen, up 15.7%.