Japan’s Toyota raised its full-year forecast on Wednesday as it reported profits more than doubled in its latest quarter, with a weakening yen boosting the value of the carmaker’s strong global sales.
For the three months to September, the world’s largest carmaker by sales said operating profit came in at ¥1.4tn ($9.5bn), a sharp increase from the ¥563bn in the same period a year earlier.
Toyota, which on Tuesday unveiled an additional $8bn investment in its North Carolina battery plant, increased its operating profit forecast for the year to the end of March 2024 by 50 per cent, to ¥4.5tn from ¥3tn.
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