Toyota Motor Corp. has raised its fiscal year profit forecast to triple what it eked out for the disaster-struck previous year, as the world's top automaker continued on a comeback roll as sales surged, especially in the U.S.
Toyota's October-December profit jumped 23 percent to 99.91 billion yen ($1.09 billion), compared to the same period the previous year. Quarterly sales edged up 9 percent to 5.3 trillion yen ($58 billion).
Underlining its solid recovery, Toyota is now expecting fiscal year profit of 860 billion yen ($9.3 billion). It had initially expected a 780 billion yen ($8.5 billion) profit. It had marked a 283.5 billion yen profit through March 2012.
Toyota also raised its sales forecast for the fiscal year through March, to 21.8 trillion yen ($237 billion), up 17 percent from the previous fiscal year.
The recovery tale at Toyota is being repeated at other Japanese automakers, which saw production disruptions from the March 2011 tsunami and earthquake in northeastern Japan.Toyota has 1,200 employees at its engine and transmission plant at Buffalo, Putnam County.