Japan's five major automakers suffered domestically during the 1997 business year, which ended March 31, but three managed to boost profits on increased sales abroad.
Toyota Motor Corp. and Honda Motor Co. showed their strength despite the dismal economic conditions, posting record-high consolidated sales and profits. Due to changes in its accounting methods, Toyota's consolidated sales declined while its sales actually grew if calculated under the previous accounting system.
As a result of its restructuring plan and the continued popularity of its Demio sport-utility vehicle, Mazda Motor Corp. also managed to increase sales and profits from the previous year.