TOYOTA: BACK IN PROFIT AND RAISING PREDICTIONS

The Japanese carmaker Toyota is back in profit and upping its end-year predictions despite the strong yen. Net profits for the first quarter were 190.5 billion yen (2.2 billion dollars), compared with losses of 77.8 billion yen in 2009. Operating profit rose to 211 billion yen (2.47 billion dollars, its highest in two years, compared with 190 billion yen a year ago), The Group is revising its estimates on end-year profits, raising them to 330 billion yen, less than the 526 billion predicted by analysts. Toyota expects to export 60% of its production this year