Japan's fast-growing top car maker Toyota said today that it had revised upward its earnings and sales forecasts for the months from April to September due to a weaker yen and robust sales abroad.
Toyota estimated its unconsolidated mid-term net profit at 500 billion yen ($3.4 billion), up from an earlier forecast of 380 billion yen.
The company, which is on track to overtake ailing US giant General Motors Corp as the world number one car maker in output, also increased its global sales forecast to 9.8 million vehicles in 2008.
Its operating profit forecast was raised to 540 billion yen from 370 billion yen, on estimated sales of 5.5 trillion yen against an earlier estimate of 5.2 trillion yen.
Toyota has been spending heavily to boost production as high fuel costs drive up sales of its energy-efficient vehicles.
