November 06, 2014
Yoko Kubota

Toyota Motor Corp. said it expects record profit in its current fiscal year, buoyed by a weaker yen that helps exports and a model lineup that is steaming ahead in the U.S.

The world’s largest auto maker by vehicle sales turned in another blockbuster quarter powered by sales of its profitable sport-utility vehicles in the U.S. Toyota’s July-September net profit rose 23% from a year earlier to ¥539 billion yen ($4.7 billion), topping profit at global rivals Volkswagen AG and General Motors Co.

Toyota raised its profit outlook for the fiscal year ending March 2015, saying it expects an operating profit of ¥2.5 trillion and net profit of ¥2 trillion, both of which would be record highs.

“The yen’s weakening certainly helped, but the revision also stems from our efforts to cut costs and improve sales,” said Nobuyori Kodaira, a Toyota executive vice president.

The Wall Street Journal