Toyota Motor Corporation has revised full-year results after sales and profits rose in the first three quarters with operating losses in both Japan and Europe offset by gains in emerging markets.

It has added 70,000 vehicle units to its full fiscal year forecast of 7.48m made last November and now expects consolidated net revenues of 19.2 trillion yen, operating income of JPY550bn, up from JPY380bn, and net income of JPY490bn, up from JPY350bn.

Net revenues for the nine-month period were up 5% year on year to JPY14.351 trillion, operating income increased from 52.2bn yen to 422.1bn yen and net income rose from 97.2bn yen to 382.7bn yen.

The operating income boost was due mainly to increased vehicle sales in emerging markets and continued cost reductions.

Consolidated vehicle sales for the nine months rose 322,000 to 5.517m units.

TMC senior managing director Takahiko Ijichi said: “Strong vehicle sales, especially in emerging markets such as Asia, Central and South America, and Africa, contributed to the increase in operating income in the nine-month period. These regions are now increasingly representing one of the pillars supporting our earnings.”

A year-on-year improvement in all regions was achieved.

In Japan, operating loss improved by JPY49.3bn to a loss of JPY174.4bn.

In North America, operating income increased by JPY144.5bn yen to JPY251.1bn.

In Europe, operating loss improved by JPY33.3bn to a loss of JPY6.7bn.

Operating income in Asia increased JPY100.2bn to JPY232.8bn.

In Central and South America, Oceania and Africa, operating income increased by JPY37.2bn to JPY117.2bn.

Financial services operating income increased JPY95.1bn to JPY300.1bn.

Ijichi added: “In addition to an improving vehicle sales outlook in Japan, Asia and Russia, the progress of our company-wide profit improvement activities, such as further reduction of variable costs and control over fixed costs, has exceeded our earlier expectations.

“As a result, we now expect to overcome the rapid and acute yen appreciation and achieve a substantial increase in operating income. One can therefore see that our earnings are firmly recovering.”

Regarding the effects of the automaker's massive global recalls from 2009 that have hurt consumer confidence in Toyota vehicles, Ijichi told Kyodo News the company has been reviewing every process from production to services to see why they have occurred.

''Albeit gradually, we believe that we can regain customer confidence in our vehicles,'' Ijichi said. ''Though we are only halfway there, we will steadily make efforts this year.''

The US Department of Transport is scheduled to release findings of its investigations over the massive recalls on Tuesday.