TOKYO (AP) — Toyota reported a 50% jump in its October to December profit Wednesday, underlining a solid recovery at the Japanese automaker from the damage of the coronavirus pandemic.
Toyota Motor Corp.’s fiscal third quarter profit totaled 838.7 billion yen ($8 billion), up from 559 billion yen the previous year.
Quarterly sales rose to 8.2 trillion yen ($78 billion) from 7.6 trillion yen.
Although its business operations are still suffering because of the pandemic, cost cuts and other efforts including online marketing campaigns helped boost its bottom line, Toyota executive Kenta Kon told reporters.
On a separate issue, when asked what the company thought of recent remarks by Tokyo Olympics organizing committee president Yoshiro Mori, which were widely criticized as sexist, the company referred to a statement from Toyota Chief Executive Akio Toyoda.
Toyoda did not call for Mori’s resignation. But he stressed that Toyota was a corporate sponsor of the Olympics because it supports the Games’ goals of promoting peace and diversity.
“The comment is different from our values, and we find it regrettable,” Toyoda said.
Yuri Kageyama is on Twitter https://twitter.com/yurikageyama