Why are Toyota's profits soaring

Toyota announced a full year net profit of $9.7 billion, three times as much as last year. CNN's Diana Magnay has more.

日本汽车业巨头丰田集团发布2013财年（2012年4月1日至2013年3月31日）财报，财年实现销售额220641亿日元，同比增长18.7%；营业利润13208亿日元，同比增长271.4%；净利润9621亿日元，同比增长239.3%。。上季度营业利润同比增长111%，是大众汽车集团的2.2倍。美国市场表现良好以及日元大幅贬值导致出口增加是丰田业绩大增的重要原因。

Four year net profit of US$9.7 billion for the world’s largest automaker, that’s 3 times as much as Toyota made for the same period last year. And several factors contributing to that, one of which is of course the weak Yen, which has been a huge boon for all Japanese exporters making their products less expensive overseas and also every dollar earned converts back to more Yen in profits back home. But that contributed just $1.5 billion to those numbers. Other factors which helped with a massive cost cutting exercise, and of course an increase in sales, almost 9 million cars sold for the last fiscal year. The company is citing modest recovery in the US, of course, which is its largest external car market, and improving demand from emerging economies here in Asia. It’s a bit of a difficult 4 years for Toyota, starting really with the 2008 financial crisis, then of course the great Japan earthquake 2 years ago, destructing production lines and a series of product recalls which affected Toyota’s image and its bottom line, so the president had a message really that despite these stellar results, what he was aiming for was sustainable growth beyond immediate business shocks or currency fluctuation, a sustainable growth that would lead to true competiveness, true competitiveness for Toyota going forward.

Diana Magnay, CNN, Tokyo.