Japanese automaker Toyota Motor Corp (T: 7203) improved earnings forecast for the current fiscal year amid the weakening of the yen.
At the end of the fiscal year, which ends March 31, Toyota expects operating profit in the region of 1.85 trillion yen ($ 16.4 billion) in November, against the expected 1.7 trillion yen, according to company statements. However, it is 35.2% lower than in 2016 fiscal year.
In addition, Toyota expects to reduce annual revenue by 6.7% - to 26.5 trillion yen, and net profit by 26.5%, to 1.7 trillion yen. The previous forecast assumed these indicators at the level of 26 trillion yen and 1.55 trillion yen respectively.
The evaluation of financial performance comes from the conditional fact that the average rate of national currency during the fiscal year will be 107 yen/$1 and 118 yen per euro.
During the first 9 months of the current fiscal year, the company's net profit decreased by 24%, to 1.433 trillion yen, compared with 1.886 trillion yen in the same period last year. Operating profit decreased by 32.5% to 1.555 trillion yen. Revenues decreased by 6% to 20.155 trillion yen.
The total sales of vehicles reached 6,643,386, which is 150,602 more than in the same period a year earlier. In Japan, the car sales increased by 136,074 to 1,612,729; in North America sales rose 4,361 to 2,145,016 thousand; in Europe Toyota sales rose 49,694 to 667,378.
The price of Toyota shares rose on the results of today's trading at 0.7%, while the reporting has been published after the end of the session.
As for the Japan’s stock market, it closed the Monday trading session higher due the strengthening of the banking, the fishing industry and the mining industry sectors.
At the close on the Tokyo Stock Exchange, Nikkei 225 rose 0.36%.
Meanwhile USD/JPY was up 0.01% to 112.66, and EUR/JPY rose 0.07%, reaching 121.34.
The USD Index rose 0.09% to 99.78.