Toyota Motor Corp. on Tuesday reported lower April-June unit sales, but higher revenues and profit thanks to the weaker yen.
Revenues for the first quarter of fiscal 2015 increased to ¥6.98 trillion, up 9.3 percent from the year before, while net profit rose by 10 percent on year to ¥646.3 billion. Both are record figures for the April-June quarter.
“Operating profit increased, but unit sales were tough, to be honest,” said Toyota Managing Officer Tetsuya Otake. The automaker sold 127,000 fewer vehicles globally.
Operating profit rose to ¥756 billion in the quarter from ¥692.7 billion the year before, with the weakened yen representing a ¥145 billion profit boost, the automaker said.
Toyota sold more vehicles in North America during the period, however sales in all other regions declined. Still, the firm estimates it will move 50,000 more units in fiscal 2015, as it believes there is room for growth in its home market.
Toyota is currently forecasting ¥27.8 trillion in full-year sales, an increase of ¥300 billion from fiscal 2014. However, it expects operating and net profits to remain the same as the previous year at ¥2.8 trillion and ¥2.25 trillion, respectively.
Otake was also asked to comment on the case of former public relations executive Julie Hamp, who resigned following her arrest on suspicion of illegally importing a painkiller to Japan.
He said the firm would underscore that all employees must obey the law.
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