Toyota Stays on Track to Report 3 Trillion Yen in Annual Profit
- Automaker raised profit forecast as SUV, Lexus sales climb
- Scion brand shutting down as Daihatsu set for transformation
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Toyota Motor Corp. stayed on track to become the first Japanese company to top 3 trillion yen ($25.7 billion) in annual operating profit, buoyed by surging sales of RAV4 sport utility vehicles and Lexus luxury models.
Nine-month operating profit rose 9 percent to 2.31 trillion yen, the company said Friday. Analysts estimate that the world’s largest automaker will earn a record 3.07 trillion yen in operating profit for the fiscal year, though Toyota said its own forecast doesn’t take into account that it’s suspending production in Japan next week.