Toyota’s quarterly profit tripled, driven by a recovery from natural disasters, and the company raised its full-year earnings forecast despite a sales slump in China.
Yesterday, the firm reported a July-September net profit of 257.9 billion yen (€2.48 billion) compared with an 80.4 billion yen (€778 million) profit a year earlier.
Japan’s top carmaker raised its profit forecast for the full fiscal year through March 2013 to 780 billion yen (€7.6 billion) from 760 billion yen (€7.3 billion). It had a profit of 283.5 billion yen (€2.6 billion) in the previous fiscal year.
The company’s optimism comes despite a sale plunge in China.