Toyota raises full-year operating profit forecast on volumes, cost-reduction efforts

TOKYO (Reuters) -Toyota Motor raised its full-year operating profit forecast on Wednesday, as cost reduction efforts and strong hybrid sales were expected to help offset the impact of U.S. import tariffs.

The world's biggest automaker now expects operating profit of 3.4 trillion yen ($22.6 billion) for the year to end-March, up 6% from its previous outlook of 3.2 trillion yen.

Toyota reported a second straight quarterly operating profit drop in the second quarter at 839.6 billion yen, down 27% from 1.16 trillion yen a year earlier and below the 863.1 billion yen average estimate of eight analysts surveyed by LSEG.

($1 = 150.7800 yen)

(Reporting by Daniel Leussink; Editing by Jacqueline Wong)