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International Business Times
International Business Times
Business
Natsuko FUKUE

Weak Yen Helps Toyota Compensate For Japan Problems

Toyota aims to sell 1.5 million pure electric vehicles annually by 2026 and 3.5 million by 2030 (Credit: AFP)

Toyota reported a modest rise in first-quarter net profits on Thursday as a weak yen and cost cuts helped the Japanese auto giant overcome a drop in production and sales in its home market.

The firm said net income rose 1.7 percent to 1.33 trillion yen ($8.9 billion) and operating profit jumped 16.7 percent to 1.31 trillion yen. Revenues climbed 12.2 percent to 11.8 trillion yen.

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