Toyota raises profit forecast to record high amid strong sales

Hybrid and high-end cars show growth despite scandals at affiliates

20240206 Toyota

Toyota Motor set a new record for market capitalization by a Japanese company in late January. (Photo by Masayuki Kozono)

SAYUMI TAKE, Nikkei staff writer

TOKYO -- Toyota Motor on Tuesday reported a net profit of 3.94 trillion yen ($26.5 billion) for the April-December period, up 107.9% on year amid strong sales of hybrid cars.

The automaker revised its annual net profit forecast upward to 4.5 trillion yen, up 83.6% on year. It had formerly forecast a full-year net profit of 3.95 trillion yen.

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