Toyota raises annual forecasts on profit rise

Last Updated: Tue, Feb 05, 2013 06:45 hrs

Toyota Motor Corp. is reporting its October-December profit rose 23 percent to 99.91 billion yen ($1.09 billion), compared to the same period the previous year, as sales jumped, especially in the U.S.

Toyota also raised its projections Tuesday for the fiscal year through March.

It now expects its fiscal year profit to more than triple from the previous fiscal year to 860 billion yen ($9.3 billion).

It also raised its full year forecasts for sales revenue and global vehicle sales as it continues to bounce back from a disaster-struck 2011.

The Japanese maker of the Prius hybrid and Lexus luxury cars rose once again to the world's top automaker in global vehicle sales last calendar year.

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