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Home日本Toyota raises profit outlook thanks to weaker yen

Toyota raises profit outlook thanks to weaker yen

TOKYO — Toyota Motor on Thursday upwardly revised its net profit forecast for the current fiscal year now that the value of the yen has declined far below what the automaker had assumed at the beginning of the fiscal year.

The Japanese auto giant said it now expects 2.36 trillion yen ($17.6 billion) in net profit for the year ending March 2023, a 17.2% decline from the previous year. The profit decrease is now expected to be narrower than the 20.7% fall foreseen in May.

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