Toyota raises annual profit forecast following strong hybrid demand

Toyota lifted its annual profit outlook to ¥3.57 trillion after strong hybrid sales boosted earnings.

Toyota increased its annual net profit projection to ¥3.57 trillion, up from an earlier estimate of ¥3.25 trillion. The world's largest carmaker reported its first profit increase in six quarters. Strong sales of hybrid vehicles in the United States and a weak yen helped boost the automaker's financial outlook.

• The profit outlookToyota upgraded its earnings prediction after posting its first quarterly profit growth in six periods.
• The market reactionCompany shares climbed 17% following the announcement of the raised financial targets.

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