Toyota’s quarterly profits more than double during its Q2‎

Toyota Motor Company announced on Wednesday that it had more than doubled its profits in the second quarter, driven by a weaker yen and stronger sales, and raised its forecast for the full year by 50%.

According to Reuters, Toyota, the largest car company by sales in the world, said that operating profits for the three months ending in September rose 155.6% year-on-year to 1.44 trillion yen ($9.52 billion).

The company added that it sold more cars in all regions of the world, including the United States, Asia, and the local market, over the six months until the end of September, compared to the same period last year.

Toyota increased its full-year profit forecast to 4.5 trillion yen, up from its previous forecast of 3 trillion yen, mainly due to factors in its favor related to currency exchange rates. The company expected that the decline of the yen would cause 1.18 trillion yen of those expected profits after the review.

The new forecast comes in contrast to the average expectations of analysts that the company will achieve profits of about four trillion yen per year.

Toyota shares, which were already up 4.4% before the announcement of quarterly business results, jumped immediately after the announcement by 5.6%, recording 2,735 yen by 0516 GMT. In the first nine months of the year, Toyota sold 7.5 million cars.