Japanese car giant Toyota on Tuesday raised its profit forecasts as the weak yen helped it compensate for the Middle East war and Chinese competition. For the current year to March 31, 2027, Toyota expects net income of 3.25 trillion yen ($20.6 billion), up from its previous projection in May of 3.0 trillion yen, but still down from last year's 3.8 trillion yen. It predicted operating income of 3.4 trillion yen, up from the last forecast of 3.0 trillion yen, and revenues of 54.0 trillion yen, a rise of 6.5 percent from the previous year. Advertisement AdvertisementAdvertisement AdvertisementFirst-quarter net income soared 75.6 percent to 1.5 trillion yen, beating market expectations. Operating income fell 8.8 percent -- the fifth straight quarterly drop -- to 1.1 trillion yen and revenues rose 10.4 percent to 13.5 trillion yen, Toyota said.