Toyota posts record full-year net profit

Agence France-Presse

Posted at May 11 2022 01:50 PM

A view of the logo of Toyota at a car show room in Moscow Russia, 16 March 2022. Maxim Shipenkov, EPA-EFE
A view of the logo of Toyota at a car show room in Moscow Russia, 16 March 2022. Maxim Shipenkov, EPA-EFE


TOKYO - Toyota on Wednesday posted a record full-year net profit helped by strong sales and a cheaper yen, but issued cautious forecasts as Russia's invasion of Ukraine and Covid-linked shortages disrupt supply chains.

The Japanese auto giant, which kept its crown as the world's top-selling carmaker in 2021, reported a net profit of 2.85 trillion yen ($22 billion), up 26.9 percent from the previous year. 

But for the current year to March 2023, it said it expects to post an annual net profit of 2.26 trillion yen ($17 billion), citing ongoing uncertainties.

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