Toyota lifts profit forecast as stable yen improves outlook

Tokyo

TOYOTA Motor Corp raised its profit forecast for this fiscal year as the yen's rally stopped short of levels that the carmaker had predicted, providing some respite from a sales slowdown that's threatening its position as the world's top seller.

Operating profit will probably drop to 1.7 trillion yen (S$22.6 billion) for the year ending in March, better than the 1.6 trillion yen forecast the Toyota City, Japan-based company made in August. Net income for the quarter ended September fell to 393.7 billion yen, beating analysts' estimates.