Toyota raises profit forecast as strong hybrid sales defy China slump

Auto giant's sales diversification eases impact of sluggish China market A Toyota bZ7 electric sedan is displayed at the Beijing International Automotive Exhibition in Beijing on April 24. © Reuters TOKYO -- Toyota Motor on Thursday raised its net profit forecast for the fiscal year through March of next year to 3.57 trillion yen ($22.6 billion) as strong hybrid vehicle sales and a weaker yen helped offset sluggish demand in China.