Toyota raises full year's profit forecast

The world's biggest carmaker, Toyota, has raised its profit forecast as the yen's weakness and cost-cutting measures helped lift its earnings, BBC News reported.

It now expects to make a net profit of 1.67tn yen ($16.9bn; £10.5bn) in the financial year to 31 March 2014, up from an earlier forecast of 1.48tn yen.

Toyota upped the forecast as it reported a net profit of 1tn yen for the six months to the end of September.

The results are in contrast with Nissan which cut its profit outlook last week.