TOKYO – Toyota raised its earnings forecast after third quarter profit jumped 14 percent, boosted by a weak yen.
Toyota Motor Corp. reported Wednesday a better-than-expected 600 billion yen ($5.1 billion) profit for the three months through December.
Sales of 6.74 trillion yen ($57.3 billion) were up 8 percent year-on-year.
Analysts surveyed by FactSet had forecast a quarterly profit of 540 billion yen ($4.6 billion).
Toyota, the world's top automaker in global vehicle sales last year, now expects a profit of 2.13 trillion yen ($18 billion) for the fiscal year through March, up nearly 17 percent from the previous year.
The maker of the Camry sedan and Lexus luxury model had previously projected a 2 trillion yen ($17 billion) profit.