Japanese car giant Toyota Tuesday reported a rise in first-half net profit and raised its forecast for the whole year, citing a cheaper yen and cost-cutting efforts.

Japan's number-one carmaker said its net profit rose 13.2 percent to 1.07 trillion yen for the six months to September on sales of 14.2 trillion yen, up 8.6 percent.

The Prius maker now expects to bank a net profit of 1.95 trillion yen for the fiscal year to March 2018, up from an earlier estimate of 1.75 trillion yen.

During the previous fiscal year, Toyota suffered its first drop in annual profit for five years, which it blamed on the cost of customer incentives in the key US market.

Toyota said operating profit from its domestic and European markets showed moderate gains for the first half.