Toyota says net profit jumps to $16 bn, raises FY forecast

Toyota on Wednesday said its nine-month net profit jumped nearly 10 percent to 1.88 trillion yen ($16 billion), as the world`s top automaker looks to squeeze more productivity out of its plants despite falling unit sales in most regions.

The Corolla and Prius maker also raised its fiscal year to March profit forecast to 2.27 trillion yen, up slightly from a previous forecast.