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Toyota profits jump 50% thanks to ‘solid’ recovery
AP, TOKYO
Toyota Motor Corp yesterday reported a 50 percent profit jump last quarter, underlining a solid recovery at the Japanese automaker from the damage of the COVID-19 pandemic.
Toyota’s quarterly profit totaled ￥838.7 billion (US$8 billion), up from ￥559 billion a year earlier.
Quarterly sales rose to ￥8.2 trillion from ￥7.6 trillion.
An image of two Toyota Sienta vehicles is pictured outside a Toyota dealership in Kawasaki, Japan, on Sunday.
Photo: Bloomberg
Although its business operations are still affected by the pandemic, cost cuts and other efforts including online marketing campaigns helped boost its bottom line, Toyota chief operating officer Kenta Kon told reporters.