Toyota Profit Jumps on Strong US Demand and Weak Yen

Toyota, Japan's largest automaker, reported nearly double its profit for the fiscal first quarter due to strong demand in the US and India combined with a favorable exchange rate.

The company's net profit rose to 1.48 trillion yen ($9.4 billion) from 841 billion yen during the same period last year.

Quarterly sales increased by 10% to 13.5 trillion yen ($85 billion), with the favorable currency effect adding 345 billion yen ($2.2 billion) to Toyota's operating profit.

The automaker is projecting a 3.25 trillion yen ($20.6 billion) profit for the full fiscal year through March 2027, down from the previous fiscal year's 3.85 trillion yen ($24 billion).