Toyota raises profit outlook on yen, cost-cuts amid U.S. competition

Toyota Motor Corp. on Tuesday raised its group earnings forecast for the current business year through next March, as it banks on the yen's fall and cost-cutting efforts to offset tough competition in its key U.S. market.Japan's biggest automaker by volume expects a group net profit of 1.95 trillion yen ($17 billion), up from its previous outlook of 1.75 trillion yen.Group operating profit is now projected at 2 trillion yen, up from 1.85 trillion yen, while its sales forecast was left unchanged at 28.5 trillion yen.The latest net and operating profit outlooks represent a 6.5 percent and 0.3…READ FULL ARTICLE