Toyota lifts outlook but yen, weak sales a worry

TOKYO, Nov 5 (BestGrowthStock) – Toyota Motor Corp (7203.T: ) lifted
its annual forecasts on Friday for the second time as Japan’s
subsidies to stimulate demand helped it boost quarterly earnings,
but a firm yen and weaker sales in major markets are key risks.

The world’s top automaker had been rescued by Tokyo’s
generous incentives favouring the hybrid segment it dominates,
but part of that stimulus ran out in September and this is set to
hammer sales in Japan for the foreseeable future.

For the full year to next March 31, Toyota now expects an
operating profit of 380 billion yen ($4.71 billion), up from its
previous forecast of 330 billion yen. A survey of 21 analysts by
Thomson Reuters I/B/E/S put the profit at 495.6 billion yen.

The maker of the Prius hybrid lifted its net profit forecast
to 350 billion yen from 340 billion yen.

For July-September, operating profit was 111.46 billion yen
lagging the average 142 billion yen estimated by four analysts
surveyed by Reuters.

Second-quarter net profit, which includes earnings made in
China, was 98.7 billion yen, up more than four times from 21.8
billion yen a year earlier.
($1=80.75 Yen)
(Reporting by Chang-Ran Kim; Editing by Anshuman Daga)

Toyota lifts outlook but yen, weak sales a worry