Toyota Forecasts Second Year of Record Profit on Yen Boon
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Toyota Motor Corp., Japan’s biggest automaker, predicted a record profit for a second year, as a weaker yen boosts the value of high-profit Lexus luxury models and SUVs sold abroad.
Net income for the 12 months ending in March may reach 2 trillion yen ($17 billion), up from its previous forecast of 1.78 trillion yen, the Toyota City, Japan-based company said today in a statement. The carmaker also raised its projections for full-year operating profit and revenue.