Toyota logs record full-year net profit, up 36.2%

Tokyo (AFP) – Japanese car giant Toyota reported a record full year net profit Wednesday thanks to a weaker yen and US tax cuts, but said profits would be down 15 percent this year.

Japan’s top carmaker said its annual net profit stood at a record 2.49 trillion yen ($23 billion), up 36.2 percent from the previous year, but for the current year it expects a net full-year profit of 2.12 trillion yen.