Toyota Lifts Earnings Outlook
The Japanese automaker expects to benefits from a weaker yen.
ToyotaMotor (TM) - Get Report lifted its earnings guidance for the ongoing year on a weaker yen and expectations for higher sales volume a week after losing its position as the top global automaker to Volkswagen (VLKAY) .
Japan's largest company by market value raised its net profit outlook for the year ending in March to ¥1.7 trillion ($15.1 billion) from ¥1.55 trillion on sales of ¥26.5 trillion, which was upgraded from ¥26.0 trillion. The automaker also raised its operating profit outlook to ¥1.85 trillion from ¥1.7 trillion. The company now assumes an exchange rate of ¥107 to the dollar and ¥118 to the euro on an annual average.
