A recovery in its US sales over the past few months has been key to Toyota's profit growth
Toyota has raised its forecast for annual profit as a weak yen and a recovery in sales in the US continue to boost its growth.
It now expects to make a net profit of 1.48tn yen ($14.8bn; £9.8bn) for the current financial year, up from its earlier projection of 1.37tn yen.
The carmaker raised the outlook as it said earnings for the April to June quarter had jumped 93% from a year ago.
Many Japanese firms have seen a surge in profits thanks to the weakening yen.
The yen has fallen by nearly 25% against the US dollar since November, after the government unveiled a series of aggressive policy moves.
A weak currency not only makes Japanese goods more affordable to foreign buyers but also helps to boost profits of exporters when they repatriate their foreign earnings back home.
On Friday, Toyota reported a net profit of 562bn yen in the three months to the end of June, up from 290bn yen during the same period last year.
The company said that cost cutting measures had also helped to lift its earnings during the quarter.
"Operating income increased due to the impact of foreign exchange rates and our global efforts for profit improvement, through cost reduction activities such as companywide value analysis," Takuo Sasak, chief marketing officer for Toyota, said in a statement,
He added that the "enhancement of the model mix and pricing" had also helped yo boost profits.
Source: BBC News - Business http://www.bbc.co.uk/news/business-23544866#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
