Toyota's Annual Operating Profit Tops 5 T. Yen

Tokyo, May 8 (Jiji Press)--Toyota Motor Corp. said Wednesday its group operating profit for fiscal 2023 surged 96.4 pct from the previous year to 5,352.9 billion yen, surpassing 5 trillion yen for the first time.

Toyota became the first Japanese company to report an annual operating profit of over 5 trillion yen.

In the fiscal year that ended in March, the leading Japanese automaker's net profit roughly doubled to hit a record high of 4,944.9 billion yen, coming close to the Japanese company record high of 4,987.9 billion yen, logged by SoftBank Group Corp. in the year to March 2021.

Toyota's sales climbed 21.4 pct to 45,095.3 billion yen, also a new record.

The rosy earnings were due to robust sales of hybrid vehicles mainly in the North American and European markets, as well as the yen moving on a weak note throughout the fiscal year.

[Copyright The Jiji Press, Ltd.]