Toyota Banking On Weaker Yen, And Better U.S. Sales To Boost Profits

 Toyota Motor Corp lifted its annual profit guidance, banking on stronger sales in its key U.S. market and a boost from a weaker yen, which put its Japanese manufacturing in the black for the first time in five years.

But the world's best-selling automaker, which shipped a record number of cars last year, said it would not build any new factories over the next three years despite the pickup in its fortunes, after it was burned in the financial crisis.

Toyota raised its net profit forecast for the year to March by more than 10 percent to 860 billion yen ($9.3 billion) on strong U.S. sales of the Camry sedan and other vehicles.

"If the current weak yen trend continues, the company's profit will likely sharply rise for the next fiscal year as well," said Mitsushige Akino, chief fund manager at Ichiyoshi Asset Management.

"If a recovery in the U.S. economy serves as a tailwind, its stock price has more upside."


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HughJass - 2/5/2013 12:17:20 PM

+2 Boost

Yet nobody questions the Korean governments official policy of weakening the Won to boost exports. Rather bias aren't we? Currency manipulation is only bad when the Japs do it. Is it because they refuse to be good little Asians and give us cheap cellphones and big ass flatscreen tvs that we don't need?