TOKYO - Toyota Motor Corp., Japan's largest automaker, is expected to post a 28 percent jump to a record 1.43 trillion yen ($12 billion) in recurring profit for the past business year, the Nihon Keizai Shimbun said.
The figure is expected to be the largest recurring profit posted by a Japanese company.
Operating profit was seen climbing 23 percent to 1.38 trillion yen, the business newspaper said in its Thursday report.
The forecasts are somewhat lower than analysts' expectations of 1.52 trillion yen in recurring profit and 1.44 trillion yen in operating profit, according to a Multex consensus estimate of 23 analysts. Toyota declined to comment, saying only that its earnings figures would be released on May 8.
Buoyed by a strong sales performance in North America and aggressive cost-cutting, Toyota has been on track for a third straight year of record profits.
Recurring profit for the first three quarters of the business year ended on March 31 came in at 1.16 trillion yen, up 53 percent on the previous year while operating profit rose 36 percent to 1.11 trillion yen.
The Nihon Keizai also attributed the rise to robust earnings at group firms such as car parts maker Aisin Seiki Co. Ltd.