Toyota raises FY profit forecast

Toyota Motor Corp raised its full-year (FY)operating profit forecast by 9.1 percent on Wednesday as a sharp decline in the yen increases the value of repatriated earnings and makes up for lower vehicle sales.

The world's biggest automaker by output now expects operating profit of 2.50 trillion yen ($21.87 billion) for the business year ending March 31, rather than the previously forecast 2.30 trillion yen.

The automaker has been enjoying strong sales in the US, its biggest market, but uncertainty looms over the market in China, where Japanese peers Honda Motor Co and Nissan Motor Co cut sales outlooks over the past week citing a sluggish economy.