Toyota posted a near-20 per cent rise in quarterly profit this morning on brisk sales in North America and Europe.
But the company kept its full-year forecasts unchanged - though still on course for an eighth straight year of record earnings
Net profit rose 7.3 per cent to 426.77 billion yen, well ahead of market estimates for 375.5 billion yen and beating a year earlier 397.6 billion yen when Toyota benefited from a one-off gain on the valuation of Mitsubishi UFJ Financial Group.
Toyota, already the world's most valuable automaker with a market worth of $230 billion and poised to take over as the top carmaker by volume, kept its forecast for full-year operating profit of 2.2 trillion yen and net profit of 1.55 trillion yen.
Toyota's results confirmed its lead over domestic rivals Honda and Nissan, which announced disappointing quarterly results last week.
The company is riding a reputation for making energy-efficient cars, boosted by the halo effect from its popular Prius hybrid and backed by a steady stream of new or refreshed products.
Toyota is now the second-biggest car seller in the United States market, the world's biggest, after winning sales from General Motors and Ford, both of which are undergoing painful restructuring. GM, Ford and Chrysler all lost market share to Asian brands last year.