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
Honda Motor Co. issued an annual operating profit outlook that fell short of analysts’ projections, reflecting the impact of higher raw material costs and production disruptions caused by war, China’s COVID-19 lockdowns and a persistent global shortage of semiconductors for automobiles. Operating profit for the fiscal year through March 2023 will be ¥810 billion ($6.3
Toyota Motor Corp. said Wednesday it will start globally launching its upscale Lexus brand’s first dedicated battery electric vehicle from late this year in a sport utility body style. The RZ model, based on the same chassis of Toyota’s first EV-only bZ4X but carrying more powerful motors, will have a range of 450 kilometers on
