Toyota ups FY 2024 net profit forecast on weak yen, hybrid car sales

Toyota Motor Corp. on Wednesday raised its net profit forecast for the year ending March to 4.52 trillion yen ($29 billion) from its earlier estimate of 3.57 trillion yen, benefiting from the weaker-than-expected yen and robust sales of hybrid cars.The new figure represents an 8.6 percent fall from a year earlier, compared with the 27.8 percent drop forecast previously.Sales are now projected at 47 trillion yen, a record high and up from the previously forecast 46 trillion yen, the automaker said. It also upgraded its outlook for operating profit to 4.7 trillion yen from 4.3 trillion yen.To…READ FULL ARTICLE