Toyota shares soar as carmaker raises full-year profits

<p>Shares in Toyota have climbed as the carmaker ups its full-year profits.</p>

Toyota's share price has climbed as the carmaker raises its full-year profit forecast amid a softening yen and sharp US sales recovery.

The manufacturer – which reclaimed the title of the world's top vehicle producer in January from General Motors – forecast a net profit of 860 billion yen (£5.9 billion) for the financial year to March 31st 2013, a rise of 780 billion yen.

Furthermore, Toyota issued this guidance as it posted a 23 per cent increase in profit for the September-December quarter, while the company also added that it anticipates sales to rise further in the coming months.

The carmaker's profits have been supported by the weak yen, which has fallen by 15 per cent versus the US dollar since November last year.

At 14:20 GMT on the Frankfurt Stock Exchange, shares in Toyota rose by 3.3 per cent to €37.15 per unit.

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