Asia

Toyota's quarterly profit up on back of sales growth

Toyota's quarterly profit rose nearly 5 percent as sales expanded, especially in the U.S., prompting the Japanese automaker to raise its full year earnings forecast.

Toyota Motor Corp., the No. 1 automaker in global vehicle sales, reported Friday a 627.9 billion yen ($5.4 billion) profit for the October-December fiscal third quarter, up from 600 billion yen a year earlier.

Quarterly sales rose 2 percent to 7.34 trillion yen ($63 billion).

Toyota, which makes the Prius hybrid, Camry sedan and Lexus luxury model, raised its annual profit forecast to 2.27 trillion yen ($19.5 billion) from 2.25 trillion yen ($19.2 billion).

The results don't take into account a six-day production halt this month because of a parts shortage.