Newspaper item: Toyota profits boosted by weak yen and strong sales.Toyota Motor the world ', s third, largest carmaker yesterday reported that its first-quarter operating profits increased. By more than a third boosted by, a weak yen and strong sales of luxury vehicles in the US.The first quarterly results in the company 's 65-year history showed a 35.4 per cent increase in operating profits to Y394.5bn. (S3.26bn) during the three months to the end of June.The decision to move to quarterly reports system reflects Toyota 's desire to bring its accounting in line with US corporate. Practice commensurate with, its status as a fully globalised Japanese Industrial Company.The strong first quarter performance was attributed to the combined effects of healthy US sales of luxury models such as. Its Lexus saloon the benefits, of a soft yen and the company 's cost-cutting programme.Toyota said its market share in Japan for the first quarter was 42.8 per cent excluding mini-vehicles, a decrease, in terms. Of unit sales, of 44 000 units.The company 's declining popularity in the face of stiff competition in Japan is one of the main challenges it faces in. The coming months.Overseas sales increased 27.6 per cent to LM units most of, them in the US. European sales rose, by 27 000 units.Total sales for the period were, 1.5m vehicles an increase of 13.2 per cent compared with estimates for the same period. Last year.
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