efe-epaTokyo

Japanese car manufacturer Toyota Motor posted a net profit of 2.49 trillion yen ($22.76 billion) during the Japanese fiscal year of 2017 representing an interannual increase of 36.2 percent.

Toyota's operating profit for the fiscal year (April 1, 2017 to March 31, 2018) was 2.39 trillion yen, 20.3 percent more interannually, according to the annual financial report presented by the company Wednesday.

The Aichi-based company earned a revenue of 29.37 trillion yen last year, an increase of 6.5 percent interannually.

Toyota's global sales of new vehicles grew 1.85 percent interannually in 2017.

It sold 10.44 million units under the group's brands, including subsidiaries Daihatsu Motor and Hino Motor.

In Japan, where it has more than 44 percent of the market share, Toyota's performance experienced a slowdown and sales fell 0.8 percent to 2,255,313 units.

Sale of Toyota vehicles abroad, on the other hand, increased 0.2 percent interannually in this period in which it sold 6,709,081 units.

In North America - its main market - sales of the Japanese manufacturer fell by 1.08 percent to 2,806,467 units, while in Europe it increased by 4.7 percent to 968,077 units.

The Japanese manufacturer expects global sales to touch 10.5 million units in the current fiscal year, which will end at the end of March 2019.

Toyota also posted Wednesday its outlook for the current year, estimating its net profit to fall by 15 percent to 2.12 trillion yen following rapid advances in the automotive industry owing to stricter environmental norms and technological innovations.

The company expects its operating profit to decline 4.2 percent to 2.3 trillion yen and sales turnover to fall by 1.3 percent to 29 trillion yen.