(MENAFN) Toyota Motor raised its full-year earnings forecast for the fiscal year ending in March, with expectations to book an annual net profit of USD18.1 billion on a weak yen, Oman Observer reported.
The revise marked the second upgrade for the financial year to March as the world's biggest automaker boosted its net profit estimate to USD18.11 billion from an earlier USD17 billion forecast.
The Corolla and Camry maker also said sales would come in at USD229.63 billion, up from an earlier USD225.38 billion forecast. Operating profit would be USD22.96 billion, up from a USD21.26 billion earlier estimate.
"While we expect a reduction in vehicle sales, we are raising our operating income, factoring in the change in our foreign exchange rate assumption and the progress in our profit improvement activities" Toyota said.
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