Toyota reported Tuesday a nearly doubling of profit for the fiscal first quarter as solid demand in the U.S. and India combined with a favorable exchange rate to boost results.
The Japanese automaker, which makes the Prius hybrid and Lexus luxury models, recorded a 1.48 trillion yen ($9.4 billion) net profit in the April-June period, up from 841 billion yen the same quarter the previous year.
Quarterly sales rose 10% year on year to 13.5 trillion yen ($85 billion).
A cheap yen raises the value of overseas earnings for Japan’s giant exporters like Toyota Motor Corp. The U.S. dollar was trading at about 145 yen during the fiscal first quarter in 2025, but at about 160 yen for the same period this year.
The dollar is now trading at about 158 yen because of a joint U.S.-Japan market intervention, which came last week, or in the fiscal second quarter.
