Top-selling automaker Toyota said Wednesday that its full-year net profit beat expectations and projected better sales and revenue for the year ahead as supply chain disruptions ease.

The firm reported ¥2.45 trillion ($18.12 billion) in net profit for the fiscal year through March, down 14% from a year earlier but still beating its projections of ¥2.36 trillion.

It said it expects full-year net profit to increase 5% for the year ahead to ¥2.58 trillion on "improvements in semiconductor supply and the efforts of production sites."