Toyota Raises Outlook

Toyota Motor Corp. has raised its outlook after posting strong results in its fiscal second quarter ended Sept. 30.

The company now expects revenue for the year ending next March 31 will grow 13% to 25 trillion yen (€187 billion) and net income will jump 74% to 1.67 trillion yen (€13 billion). The calculations assume the yen will be 14% weaker than in the previous fiscal year.

Toyota predicts its consolidated vehicle sales will be flat at 9.1 million units as a 4% downturn in Asia offsets modest growth in Japan, Europe and North America.

The company's revenue in July-September rose 16% to 6.3 trillion yen (€47 billion). Operating income for the period climbed 74% to 592 billion yen (€4.4 billion), led by a 160% jump to 374 billion yen (€2.8 billion) in Japan.

Operating income for the period advanced 39% to 82 billion yen (€615 million) in North America and 133% to 20 billion yen (€150 million) in Europe compared to July-September 2012.

Toyota's net income for July-September grew to 438 billion yen (€3.3 billion) from 258 billion yen (€1.9 billion) a year earlier.

The company's global vehicle sales for the quarter slipped 12,000 units to 2.24 million year on year. Volume dropped 7% in Japan and 9% in Asia. Deliveries rose 2% in North America, 5% in Europe and 10% in other markets.