On February 6 Toyota Motor Corporation (Toyota) revised its consolidated financial forecasts upward for the fiscal year that ends in March 2018. Its revenue and net income are expected to hit record highs. The company now forecasts consolidated revenue of JPY 29 trillion, which is up JPY 500 billion from the previous projection, or a 5.1% year-over year (y/y) increase; operating income of JPY 2.2 trillion, up JPY 200 billion from the previous projection for a 10.3% y/y increase; and net income of JPY 2.4 trillion yen, up JPY 450 billion from the previous estimate or a 31.1% y/y increase. The automaker has not revised its consolidated vehicle sales forecast from 8.95 million units, down 0.2% y/y. Toyota Group's retail vehicle sales including the group's Chinese joint venture are expected to rise 0.5% y/y, for a 50,000 unit increase from the previous forecast to 10,300,000 units. For the nine-month period from April to December 2017, net revenues of JPY 21.7969 trillion and net income of JPY 2.0131 trillion both reached record-highs exceeding the results for the same period in 2015. The forecasts are calculated based on an exchange rate of 112 yen to the U.S dollar. A five-yen y/y appreciation pushed up profits. (From an article in the Nikkan Jidosha Shimbun on February 7, 2018)