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Toyota profit rises again
Toyota recorded its first profit increase in a year and a half and raised its full-year operating profit forecast by 15% to 3.9 trillion yen, buoyed by the weak yen and demand for hybrid cars despite falling sales in China and the Middle East. Operating profit for the July–September quarter rose 34% to 1.13 trillion yen, beating analysts’ average forecast of 992 billion yen. The company’s shares jumped more than 14% after the results were announced. Toyota said it was responding to rising fuel and materials costs by boosting sales and cutting expenses.
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