(Tokyo) The world’s number one automobile manufacturer Toyota announced on Tuesday a new surge in profits for its third quarter of 2023-24 and raised its annual targets thanks to even more favorable exchange rate effects than initially expected.
The group now expects a net profit of 4.5 trillion yen (40.95 billion Canadian dollars) for its annual financial year ending at the end of March, compared to 3.95 trillion yen (35.95 billion Canadian dollars) previously. This would amount to a jump of 83.6% over one year. In its third quarter (October-December), its net profit soared in the same proportions (+86.5%).
More details to come.