TOKYO – Toyota Motor Corp. is seeing a 16 percent gain in fiscal second quarter profit as sales grew, and a cheaper yen offset higher marketing costs.
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Toyota, Japan’s top automaker, reported Tuesday its July-September profit totaled 458.2 billion yen ($4 billion), up from 393.7 billion yen the same period last year.
Quarterly sales grew 10 percent to 7.14 trillion yen ($62.7 billion).
Toyota, which makes the Camry sedan, Lexus luxury models and Prius hybrid, raised its annual profit forecast through March 2018, to 1.95 trillion yen ($17 billion) from the earlier 1.75 trillion yen ($15 billion).
That would be up 6 percent from 1.83 trillion yen it racked up the previous fiscal year.
Toyota is crediting cost cuts and a cheaper yen, which helps lift earnings for Japanese exporters like Toyota.
