NEW YORK (TheStreet) -- Toyota (TM) may have it origins in Japan, but looking at its first quarter fiscal 2015 results -- which were published earlier today -- it is a global company now. Just 23% of Toyota's vehicle sales were in Japan during the three months reported, and even those fell 20% year-on-year. By contrast, over 30% of vehicle sales were in North America. Operating profits were up in the region, as well as in Europe and Asia, while Japanese profits slumped 20% year-on-year.
Read More: Has the Auto Industry Peaked?
So is everything good for one of the world's best known automotive brands?
Yes and no. Toyota is doing well, but it has two big opportunities too.
The first is the lackluster Japanese economy. Yes, you read that correctly. Bad is actually good.
Here's why. Japan has to further stimulate its economy to go forward by undertaking more of the policies that the Federal Reserve has used in recent years to help the American economy. That means more quantitative easing, and more attempts to boost inflation to encourage spending.
Now maybe this leads to a few more car sales in Japan -- but that is not my main point. This should lead to a lower Japanese yen. For a company which, per the penultimate page of their presentation deck, still makes over 36% of its overall vehicle production in Japan, that's great news. It makes exports more competitive.