Toyota quarterly profit rises 13.5 percent to $5 billion on strong sales, cost cuts, cheap yen

November 5, 2015 5:45 AM

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TOKYO – Toyota Motor Corp. reported a 13.5 percent increase in quarterly profit due to strong sales, cost cuts and a favorable exchange rate.

Toyota reported Thursday a July-September profit of 611.7 billion yen ($5.0 billion), up from 539 billion yen the previous year, and a tad short of the forecast by FactSet at nearly 615 billion yen ($5.1 billion).

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