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Toyota raises full-year profit outlook on weaker yen, cost cutting Feb 6, 2017
 

A man looks at Toyota Motor Corp's Estima Hybrid model at its headquarters in TokyoToyota Motor Corp on Monday raised its full-year profit forecast by 9.7 percent as the world's No. 2 automaker expects a bigger reprieve from a weakening yen while cost-cutting efforts also help. Toyota has been cutting costs by sourcing more car parts locally and marketing locally produced cars more aggressively to mitigate the impact of yen strength as part of emergency measures implemented last year, around when the U.S. dollar sank to 100 yen. The Japanese automaker expects net profit through March to come in at 1.7 trillion yen ($15.08 billion), compared with a previous forecast for 1.55 trillion yen.


 
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