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Toyota raises full-year earnings forecast

Profit outlook 4% over initial figure, though exec calls 1st half '50-50'

A weaker yen underpinned Toyota's upgraded guidance, with global car sales lagging behind overall market growth.   © Reuters

TOKYO -- Toyota Motor announced on Tuesday, that it has revised its full-year earnings forecast for the fiscal year ending March 2019, expecting a 4% increase in operating profit than initially projected. The rise is thanks to a promising outlook on global car sales, as well as a company-wide cost-saving initiative that has boosted profit. A weaker outlook for the yen also helped.

The company also reported a 15% increase in operating profit for the six months ended September, which led the company to bump up its earnings projections for the full year. Revenue increased 3% year on year to 14.6 trillion yen ($129 billion), a record high, while group global car sales rose 1.5% to a record 5.29 million vehicles.

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