Toyota says quarterly profit up 10% to 646b yen, lifts sales forecast

Tokyo

TOYOTA on Tuesday said its net profit for the three months to June jumped 10 per cent from a year ago, crediting a weak yen and cost cuts, while it also boosted its annual sales forecast.

The Corolla and Camry maker earned 646 billion yen (S$7.2 billion) in the quarter, while revenue rose 9.3 per cent to 6.98 trillion yen, as it separately announced an overhaul of its operations in China, the world's biggest vehicle market.

The Japanese giant's vehicle sales,…