Japanese companies are headed toward their highest profits ever, as the falling yen boosts exporters from Toyota Motor Corp. to Uniqlo-operator Fast Retailing Co.

Aggregate net income at 195 of the largest listed companies will expand 10 percent to a record ¥17.5 trillion this fiscal year, based on some analyst estimates. Executives are catching up to such lofty expectations, with Toyota this week raising its profit forecast to an unprecedented ¥2 trillion.

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