DHAKA: Japan’s Toyota has reported a 4.7% year-on-year rise in net income for the three months to December, to 627.9bn yen ($5.37bn), due in part to stronger sales in the US.

The company, the world’s biggest carmaker, also raised its North America sales forecast for the full year to March, because of the higher US demand, reports the BBC.

But operating profit for the quarter fell by 5.3%, missing forecasts.

The car industry has been hurt by a global slowdown, particularly in China.

The firm said net income for the year to March was still likely to come in at 2.27tn yen.

‘Our latest forecast remains unchanged from the previous forecast, having reflected both positive factors - such as progress in cost reduction and the weaker-than-expected yen so far,’ managing officer Tetsuya Otake said.

In the nine months to December, the firm said consolidated vehicle sales came in at 6,492,784 vehicles - a decrease of 246,374 compared with the same period last a year earlier.

It said sales in North America had increased by 33,032 vehicles to 2,140,655 because of strong demand from the US.

In Asia, however, vehicle sales fell by 112,478 vehicles to 1,016,235 over the nine months.

BDST: 1306 HRS, FEB 06, 2016
RR