Toyota put more distance between it and a year racked by natural and man-made disaster, releasing a profit forecast triple that of what it earned in the previous year.
Toyota’s recovery is being repeated at other Japanese automakers, which saw production disruptions from the March 2011 tsunami and earthquake in northeastern Japan. The natural disaster was compounded by a meltdown at the Fukushima nuclear plant, which helped knock Toyota from its spot as the world’s biggest automaker. Toyota’s profit jumped 23 percent to $1.09 billion in the last quarter. Sales edged up 9 percent to $58 billion. The company is now expecting fiscal year profit of $9.3 billion.
News Tribune news services
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