Toyota raises net profit forecast to 2.36 tril. on weaker yen

Toyota Motor Corp. said Thursday it revised upward its net profit forecast for the current business year through March to 2.36 trillion yen ($17.6 billion) from the previously estimated 2.26 trillion yen due largely to a weakening of the Japanese currency.

It also raised its sales forecast for the year to 34.5 trillion yen from 33.0 trillion yen, while leaving unchanged its operating profit projection at 2.40 trillion yen.

The automaker kept its full-year production and group sales outlooks at 9.7 million units and 10.7 million units, respectively.

For the three months ended June, its net profit fell 17.9 percent to 736.82 billion yen on sales of 8.49 trillion yen, up 7.0 percent.

© Kyodo News