Toyota booked its first profit gain in six quarters and lifted its annual outlook by 15%, as a weaker yen and strong demand for hybrids.

On a day the Nikkei fell, Toyota had its best session in nearly two decades.

Toyota booked its first profit gain in six quarters.

The carmaker also raised its annual outlook by 15%, posting its first profit gain in six quarters thanks to a weak yen and strong hybrid sales.

Operating profit is now forecast at ¥3.9 trillion, up from ¥3.4 trillion.

Toyota is also cancelling 1 billion of its own shares worth about ¥3.5 trillion.

Shares jumped 16.7%. The hybrid-first strategy that critics called too cautious during the EV boom is now paying off.