Six of Japan’s seven major automakers fared well on their consolidated bottom lines in fiscal 2021, benefiting from the yen’s weakening, according to earnings reports.
Industry leader Toyota Motor Corp. reported a record net profit of ¥2.85 trillion in the year to March, up 26.9% from the preceding year. Net profit grew 7.6% to ¥707 billion at Honda Motor Co. and 9.5% to ¥160.3 billion at Suzuki Motor Corp. Meanwhile, Nissan Motor Co., Mazda Motor Corp. and Mitsubishi Motors Corp. returned to the black, reporting net profits of ¥215.5 billion, ¥81.5 billion and ¥74 billion, respectively.
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