Toyota Motor Corp. said Tuesday its net profit in the three months ended June soared 78.0 percent from a year ago to a record 1.31 trillion yen ($9.2 billion), helped by the yen's weakness and robust sales.

It posted record sales of 10.5 trillion yen, up 24.2 percent, while its operating profit jumped 93.7 percent to 1.12 trillion yen.

The upbeat earnings results came as the automaker ramps up its production capacity across the globe to make up for lost opportunities during the coronavirus pandemic.

An easing in the global chip shortage also allowed pent-up demand to be satisfied, with its group-wide sales in the three-month period rising 8.1 percent to 2.75 million cars, the company said.

Toyota also benefited from a weaker yen. The Japanese currency fell about 8 yen against the U.S. dollar during the year through June, according to Bank of Japan data, amid the widening interest rate differential between Japan and the United States.

Every 1-yen fall against the dollar boosts the automaker's operating profits by 45 billion yen, Toyota has said.

The company kept its full-year earnings forecast unchanged. Its net profit for the year ending March next year is projected to rise 5.2 percent to 2.58 trillion yen while sales are estimated to reach 38 trillion yen, up 2.3 percent.

==Kyodo

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