Toyota Motor Corp., the world's biggest carmaker, rose the most in seven weeks in Tokyo trading after a report that the company will post a full-year operating profit.
The automaker gained 2.9 percent, the biggest intraday gain since March 8, to 3,675 yen as of 9:17 a.m. Toyota will probably post operating profit of as much as 50 billion yen ($530 million) for the year ended March 31, Nikkei English News reported on April 24, without saying where it got the information.
Toyota, which on Feb. 4 forecast a 20 billion yen full-year operating loss, may have turned to a profit after it cut costs and a weaker yen boosted revenue from overseas, the Nikkei said. The maker of Corolla cars may post 44.4 billion yen in operating profit for the year, according to the average of nine analysts surveyed by Bloomberg this month.
Ririko Takeuchi, a spokeswoman for the Toyota City, Japan- based carmaker, declined to comment on the report. Toyota will announce earnings on May 11.
