Toyota Motor Corp. said Wednesday its group net profit logged a year-on-year surge of 23 percent in the first half, hitting a best-ever 524.46 billion yen, on record sales.
Japan's largest automaker attributed the rise to a 110 billion yen cost-cutting effort in its manufacturing and distribution operations, as well as to a boost in car sales.
Although the yen rose against the dollar in the April-September period, the weakening of the yen against the euro and other currencies offset the negative impact of the former, company officials said.