TOKYO Feb 6 Toyota Motor Corp on
Monday raised its full-year profit forecast by 9.7 percent as
the world's No. 2 automaker expects a bigger reprieve from a
weakening yen while cost-cutting efforts also help.
The Japanese automaker expects net profit through March to
come in at 1.7 trillion yen ($15.08 billion), compared with a
previous forecast for 1.55 trillion yen. It also sees a higher
operating profit of 1.85 trillion yen versus 1.7 trillion yen
stated in November.
Analysts expect net profit to come in at 1.721 trillion yen
for the year, and operating profit at 2.02 trillion yen.
Toyota still expects its full-year profit to tumble from
last year's record 2.31 trillion yen, but its outlook has
improved as it anticipates the domestic currency to average
around 107 yen to the U.S. dollar and 118 yen to the euro
through March, compared with previous forecasts of 103 yen and
114 yen respectively.
($1 = 112.7100 yen)
(Reporting by Naomi Tajitsu; Editing by Christopher Cushing)