Toyota Motor Corp. on Tuesday lifted its net profit forecast for the year ending March to 4.5 trillion yen ($30.3 billion) from an earlier projection of 3.95 trillion yen, helped by higher production amid an easing chip shortage.
Sales are now forecast at 43.5 trillion yen compared to a previous estimate of 43 trillion yen, the automaker said.
For the nine months ended Dec. 31, its net profit more than doubled from a year earlier to 3.95 trillion yen on sales of 34.02 trillion yen, up 23.9 percent, both a record high for the period, Toyota said.
