Toyota says expects record annual profit, raises outlook

TOKYO Tue Feb 4, 2014 1:16am EST

TOKYO Feb 4 (Reuters) - Toyota Motor Corp raised its operating profit forecast for the financial year by 9 percent to a record 2.4 trillion yen ($23.7 billion) as the yen, which has fallen against the dollar by some 9 percent this financial year, buoys profits of the export-oriented car maker.

The world's best-selling automaker said on Tuesday it now expects to post 2.4 trillion yen in annual operating profit, up from its previous forecast of 2.2 trillion yen and higher than its pre-Lehman crisis record of 2.27 trillion yen from six years ago.

The revision was almost in line with the 2.44 trillion yen estimated by 23 analysts.

For the October-December third quarter, Toyota posted 600.5 billion yen in operating profit, above the average estimate of 575.9 billion yen and nearly five times what it posted a year ago.