Updated on
Summary
Profits at Japanese carmaker Toyota have continued to soar, with second quarter earnings nearly doubling to 98.7bn yen. The company raised its profit forecast again, predicting earnings of 380bn yen ($4.7bn, 2.9bn) for the full year. Executive vice president Satoshi Ozawa warned the strong yen was putting production levels in Japan at risk. Sales were also boosted by green car subsidies in Japan, but these have now come to an end. Mr Ozawa spoke of a continued very tough business environment, characterised by the radically and seriously appreciated yen in recent months, the risk of slowdown in demand recovery in the United States and Europe, and falling demand following the end of the eco-car subsidies in Japan.
