Mainichi Daily News

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Toyota reports surging profit for third quarter

Toyota on Tuesday reported a 34 percent rise in profit for the quarter ended Dec. 31 as the Japanese automaker marked solid sales growth in North America and Asia.

Toyota Motor Corp., the world's second biggest automaker, marked group net profit of 397.6 billion yen during the three months, up from 296.5 billion yen the same period a year earlier. Sales for the quarter totaled 5.33 trillion yen, up 15 percent from 4.64 trillion yen the previous year.

A favorable exchange rate added 130 billion yen to the quarterly results, the company, based in Toyota city, said in a statement. A weaker yen tends to boost the earnings of exporters like Toyota when their overseas profits are converted into yen.

Global vehicle sales for the quarter reached 1.98 million vehicles, up 8 percent from a year earlier, as sales were strong in North America on the popularity of the Avalon sedan, Tacoma pickup and Prius hybrid cars. North American vehicle sales rose 12 percent from the previous year, Toyota said.

Vehicle sales remained at about the same level from the previous year in Japan and Europe but jumped by 11 percent in Asia from the previous year to 217,000 vehicles, it said. (AP)

February 7,2006