Toyota expects record annual profit

The largest Japanese carmaker Toyota Motor Corp., one of the three world leaders, expects record net profit of the second fiscal year in a row: estimated net profit for the 12 months ending in March 31 was increased by 9% from 1.78 trillion yen to 2 trillion yen ($ 17.5 billion).

In 2014 Toyota received a record net profit of 1.82 trillion yen (nearly $ 16 billion).

In addition, the company has improved the forecast of annual operating profit and revenue due to the weakening of the yen.

As was stated in Toyota, in July-September (second quarter of 2015) net profit will grow by 23% up to 539.1 billion yen ($ 4.73 billion) from 438.4 billion yen ($ 3.85 billion) in the same period a year earlier. Analysts polled by the Japanese Agency QUICK, on average expect the figure of 501.2 billion yen ($ 4.4 billion).

Operating profit increased by 11.3% to 659.22 billion yen ($ 5.8 billion) at the consensus forecast of 650.7 billion yen ($ 5.7 billion).