Toyota sees 10% profit growth

Toyota Motor, the Japanese automaker, expects full-year operating profit to rise 10% after a 35% rise in quarterly earnings. The company expects to increase sales in all its major markets due to improved semiconductor shipments. As a result of the weakening yen, the value of overseas sales and production volumes also rose. The company's new CEO, Koji Sato, predicts that operating income will rise about 10% to 3.0 trillion yen this fiscal year. However, the company is facing challenges in the Chinese market, where a rapid shift to electric vehicles is hurting demand for traditional gasoline-powered vehicles. Toyota shares after the publication of the report rose 2.2% to 1958 yen.