TOKYO- Toyota Motor Corp on Thursday raised its forecast for annual operating profit by 4.2% due to a slightly weaker yen.
Toyota expects operating profit to rise to 2.5 trillion yen (£17.5 billion) in the year to March, up from 2.47 trillion yen the previous year and its earlier forecast of 2.4 trillion yen.
The outlook is based on a new assumption for the yen to average around 108 yen to the U.S. dollar versus 107 yen previously.
The higher forecast comes even as Toyota posted a 3.2% decline in third-quarter profit, hurt by softer global vehicle sales.
Operating profit for Japan’s biggest automaker came in at 654.4 billion yen in the October-December quarter, down from 676.1 billion yen a year ago.
(Content and photos syndicated via Reuters)
