Japanese automakers are expected to reap further profits, possibly at record levels, in the current business year to next March thanks to the yen's decline and the positive U.S. economic outlook, experts said.

The carmakers have already benefited from windfall profits since the yen started to tumble against major currencies late last year amid hopes for aggressive credit easing under "Abenomics."

The exchange rate impact is being magnified by carmakers' cost-cutting efforts during the yen's past rallies and the global economic slowdown triggered by the Lehman Brothers' collapse in 2008.