Positive outlook for marques

Three Japanese marques – Toyota, Honda and Nissan – have all announced increased operating profit forecasts for the current fiscal year after reporting strong sales.

The move comes as sales activity for the companies has been boosted by a weaker yen and recovering supply chains.

Nissan raised its full-year profit outlook to ¥620 billion (NZ$6.9b), which would equate to a 64 per cent gain from the previous year.

It follows a 127 per cent year-on-year jump in its July-September operating profit to ¥208.1b.

Honda is tipping a ¥1.2 trillion full-year profit, up 20 per cent from previous guidance, as stronger sales in the US and the weaker yen helped offset declining trade in China, reports Reuters. 

The company’s operating profit climbed to ¥302.1b in the September quarter, up 31 per cent from the same period a year ago.

Meanwhile, half-year profits at Toyota more than doubled in April through September to a record $2.6tn. 

Japan’s automotive sector is on track this year to exceed its peak operating profit of around ¥5.4tn in fiscal 2015, reports Bloomberg.