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Toyota shares rise after report achieving record profit

Shares in Japanese auto giant Toyota advanced in Tokyo morning trade on Friday following a report it is set to book a record operating profit in the nine-month period to September.

Toyota's shares were up 2.11 percent, or 128 yen, at 6,173 yen about thirty minutes after the opening bell.

Toyota's operating profit in the April-September period appeared to have risen by four percent from a year earlier to some 1.3 trillion yen ($12 billion), the leading Japanese business daily Nikkei reported.

The rise in profit is due to brisk sales in North America and elsewhere helped by a cheaper yen, it said.

Toyota may revise up its net profit forecast for the full year to March, it said.

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The company has sold some of its shares in US electric car manufacturer Tesla Motors, following Tesla's earlier announcement it will stop supplying Toyota with lithium-ion batteries for electric vehicles by the year-end, the Nikkei also reported.

Toyota however plans to continue to work with Tesla in such areas as technology for plug-in hybrid vehicles, it said.

Toyota plans to announce its latest earnings report on November 5.

kh/st