ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Toyota nearly doubles net profit forecast fueled by US and China

Japanese car giant also reins in pandemic impact with more cost-efficiency

Toyota Motor nearly doubled its full-year net profit forecast on the back of speedy vehicle market recoveries in the U.S. and China and improved cost-efficiency. (Photo by Takuya Imai)

TOKYO -- Toyota Motor on Friday nearly doubled its full-year net profit forecast to 1.42 trillion yen ($13.7 billion), as the Japanese automotive giant mitigates the impact of the coronavirus pandemic helped by speedy recoveries in the U.S. and Chinese markets and improved cost-efficiency.

Separately, rival Honda Motor also announced that it now forecasts 390 billion yen of net profit through March 2021, more than double what it previously assumed.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more