AFP, Tokyo :
Toyota Thursday posted a record annual net profit of $17.9 billion as the world’s biggest automaker saw a recovery in major markets and got a boost from the weaker yen.
But the company, hit by a series of huge recalls and recent labour problems in India, warned that profit growth would slow this year.
Still, the buoyant results underscore a recovery not only for the Camry and Corolla maker but also for rival auto giants including Nissan and Honda.
Honda saw its net profit in the past fiscal year soar 56.4 percent, while Nissan reports its annual financial results next week.
On Thursday, Toyota said it had earned a net profit of 1.82 trillion yen ($17.9 billion) over the fiscal year to March, nearly doubling from a year earlier, as sales rose 16.4 percent to 25.69 trillion yen.
