Tuesday November 7, 2017
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A Toyota logo is seen on media day at the Mondial de l'Automobile, the Paris auto show, in Paris September 29, 2016. — Reuters picA Toyota logo is seen on media day at the Mondial de l'Automobile, the Paris auto show, in Paris September 29, 2016. — Reuters picTOKYO, Nov 7 — Japanese car giant Toyota today logged a jump in its first-half net profits and revised up its bottom-line forecast for the whole year, citing a cheaper yen and cost-cutting efforts.

Japan’s number-one carmaker said its net profit gained 13.2 per cent to ¥1.07 trillion yen (US$9.4 billion, RM40 billion) for the six months to September on sales of ¥14.2 trillion, up 8.6 per cent.

The Prius maker now expects to bank a net profit of ¥1.95 trillion for the fiscal year to March 2018, up from an earlier estimate of ¥1.75 trillion.

Japanese exporters, led by automakers, have generally benefited from a relatively cheaper yen.

The dollar stood at ¥113.86 yen today, sharply higher than 103.12 seen a year ago.

Last year, Toyota suffered its first drop in annual profit in five years, which it blamed on the cost of customer incentives in the key US market. — AFP

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