Toyota Motor Corp. on Tuesday raised its expectations for the business year to March, saying it now forecasts group operating profit of ¥270 billion on the back of rebounding sales in the United States and Europe as well as its cost-cutting efforts.
The auto giant had forecast Dec. 9 that the profit would come to ¥200 billion. But the new outlook is still dimmer than the ¥468.2 billion profit for the year that ended last March, as the current business year was impacted by the March 11 earthquake and tsunami as well as last year's Thai floods, which disrupted the supply of parts and forced the company to briefly suspend production.
The auto giant also expects a ¥200 billion group net profit on sales of ¥18.3 trillion, against a ¥180 billion net profit on sales of ¥18.2 trillion announced in December.