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International Business Times
International Business Times
Business
AFP News

Toyota Raises Annual Net Profit Forecast As Chip Shortage Eases

Toyota pioneered hybrid cars with its uber-popular Prius model (Credit: AFP)

Japan's Toyota raised its annual net profit forecast to a record high on Tuesday and reported strong sales in all regions in the first three quarters as the global semiconductor shortage eases.

The weak yen is also boosting earnings for the auto titan, which now expects to book a net profit of 4.5 trillion yen ($30 billion) this financial year, up from its previous forecast of 3.95 trillion yen.

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