Toyota Motor Corp. is set to post record quarterly profit Friday because of drivers in the U.S, China and Europe: Its only weakness is in Japan.
Toyota's first-quarter net income surged 23 percent to ¥457 billion, aided by overseas sales and a weaker, yen according to the median estimate of five analysts surveyed by Bloomberg.
Toyota's first-half domestic sales dropped 10 percent as the country's population ages. In response to the decline, Toyota named Akio Toyoda, the 51-year-old descendant of founder Kiichiro Toyoda and a potential chief executive, as head of Japan sales in June.
"It's becoming more difficult to make a large profit in Japan, as the market is shrinking and people aren't buying cars," said Yoshihiro Okumura, who helps oversee the equivalent of $365 million at Chiba-gin Asset Management Co. in Tokyo.
"Toyota is doing its best to boost sales in Japan by introducing more models than rivals."
President Katsuaki Watanabe is spending a record ¥940 billion in research and development this business year. The carmaker brought out 11 new or redesigned cars in Japan in the last 16 months.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.