<p>Toyota sees profits rise</p>

Toyota sees profits rise

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The Toyota of Japan has turned into a previous forecast of profits that were lower.

It said it now expected earnings for the complete year to become 1.95 trillion yen ($17bn), after a previous forecast of 1.83tn yen of annual earnings.

The forecast is partly because of the yen. Toyota is now assuming an exchange rate of 111 yen instead of 105 yen.

The automobile giant’s revision came with the release of six-month statistics which showed profits up 13.2 percent in 1.07tn yen.

Profits from the overseas sales of Toyota fluctuate with the level of the yen against major market currencies.

When brought back providing a boost in case the yen falls earnings buy more of the currency.

Consolidated vehicle sales for the six months to September were 4,389,435, up by 25,898 units in comparison with the preceding year.

Revenue in Japan were 1,087,354 units, up by 8,544. While vehicle sales were 469,503 units, a rise of 35,122 units, the key North America marketplace saw a drop in earnings of 4,211 to 1,396,158 units.

The previous figures of the company indicated the very first fall in profits.

Toyota also said on Tuesday it would buy the following tranche this time, of its own shares back .

Such a transfer will normally boost a corporation’s share price, as it leaves shares one of that to share the proceeds around.