Expects fullyear operating profit to climb to 22.2 bln
Targets 10.1 mln vehicle production in new FY, up 11 YY
Q4 profit jumps 35, beats forecasts; record annual revenue
Shares close up 0.8 after rising as much as 2.5

TOKYO, May 10 Reuters Toyota Motor Corp on Wednesday said it expects operating profit to climb 10 this business year, with a fivefold jump in pure electric vehicle EV sales amid an easing in global supply chain disruption from a shortage of chips.

The growth plan was unveiled by new CEO Koji Sato, installed last month, and signals a more aggressive push towards electrification by the Japanese firm that has previously pursued a goslow approach to allelectric cars, arguing its strategy would provide more consumer choice.

The world39;s biggest car maker by sales forecast battery EV sales, including those of its luxury Lexus brand, would reach 202,000 worldwide this business year through March 2024 up more than fivefold from 38,000 units last year.

Toyota forecast operating profit would rise to 3.0 trillion yen 22.2 billion this business year, in line with an analysts39; average forecast of 3.02 trillion yen.

That target came after operating profit for the fiscal fourth quarter through March surged more than a third to 626.9 billion yen easily ahead of the average 553.46 billion yen profit estimated by 10 analysts, according to Refinitiv data.

Toyota39;s strategy has seen it come under pressure in China, the world39;s biggest auto market, where…