Japan’s largest automaker, Toyota Motor Corporation witnessed a profit of 39% which surpassed the expectations of the firm. The profits incurred are expected to overcome the loss due to the catastrophe that occurred in the area on March 11.

The company raises the profit expectation bar for the next financial year, to 390 billion yen ($5 billion) from 280 billion yen, after receiving a net profit of 408 billion yen previous year. The sales of the company are expected to increase by 19 trillion yen an increase from 18.6 trillion yen prediction made June 10.

Apart from Toyota, Honda Motor Company has also incurred good profits and had declared the profits expectation for the next year to reach the mark of 18%. Moreover, Nissan Motor Company also witnessed a total income of 85 billion yen, in its first quarter of the financial year.

The sales of Toyota in the first quarter of the year comprised of 1.16 billion yen that comes to 99% profit even in the period when the company was affected the most from the natural calamity that took place.

As per Tadashi Usui, an analyst at Moody’s K. K. in Tokyo, “The Japanese carmakers are recovering more quickly than earlier expected. The challenge post-recovery is how competitive they can be in this very difficult operating environment”.