Weak yen lifts Toyota's FY 2021 profit outlook despite output cuts

Toyota Motor Corp. on Thursday raised its net profit outlook for the business year to next March to 2.49 trillion yen ($22 billion), boosted by a weaker yen despite output cuts triggered by a parts shortage.Toyota revised its previous forecast estimate of 2.3 trillion yen after posting a record net profit in the six months to September even as automakers grappled with a global chip crunch and supply chain disruptions caused by the COVID-19 pandemic.The world's top-selling automaker by volume expects a 10.9 percent gain in net profit in fiscal 2021, matching a record 2.49 trillion yen profit…READ FULL ARTICLE