Weak yen helps Toyota profits double in Q1

Weak yen helps Toyota profits double in Q1

Toyota’s profit more than doubled to 313.9bn yen (€2.4bn) in the January-March quarter as cost cuts and better sales worked with a weakening yen to add momentum to the car maker’s comeback.

Toyota reported a 121bn yen profit for the same quarter last year.

The world’s top-selling car maker said it expects the strong results to continue into the fiscal year through to next March.

It projected a 1.37tn yen profit, up from 962bn yen the previous year.

A recent plunge in the yen, brought about by the economic and monetary policies of prime minister Shinzo Abe, who took office late last year, has been a boon for Japanese exporters such as Toyota.

But company president Akio Toyoda warned competition remains tough.

More in this Section

Montessori school gets injunction preventing landlord from retaking possession of its premisesMontessori school gets injunction preventing landlord from retaking possession of its premises

Are we facing bare shelves after Brexit?Are we facing bare shelves after Brexit?

Ryanair shareholders lash out at Michael O’Leary pay plansRyanair shareholders lash out at Michael O’Leary pay plans

Bank warns of prolonged Brexit uncertainty as interest rates heldBank warns of prolonged Brexit uncertainty as interest rates held


Lifestyle

Audrey's been sorting out Cork people for ages.Ask Audrey: C’mere, what’s the story with Chris O’Dowd thinking he’s better than Cork people

So, I put a link to a short story up for my students the other day. The story was by Michael Morpurgo and I was delighted to find an online copy. It can be challenging when you are relying on non-paper texts to teach.Secret diary of an Irish teacher: I love physical books and always will

Celebrated actress Siobhán McSweeney may have found fame starring in a TV series set at the other end of the country, but Cork is never far from her thoughts, writes Ciara McDonnellHome is where the art is for Derry Girls actress

There are literally hundreds of free events on offer this evening for kids and adults on Culture Night. Marjorie Brennan selects the best of them, in Cork and beyondCulture Night: Get out and make the most of it

More From The Irish Examiner