Toyota Forecasts Profit Will Double to Highest in 5 Years
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Toyota Motor Corp., Asia’s biggest carmaker, forecast profit will more than double to a five-year high as it shakes off last year’s natural disasters and introduces new models to regain market share.
Net income may increase to 760 billion yen ($9.5 billion) in the fiscal year ending March 2013, after falling to 283.6 billion yen, the Toyota City, Japan-based carmaker said today. The profit forecast was 7 percent below the average analyst estimate compiled by Bloomberg, while the company projected higher-than-expected revenue growth.