The Japanese auto giant Toyota on Tuesday lifted its profit outlook. It can thank the weak yen.

The automaker said it now expects the yen to average 160 per U.S. dollar in its current fiscal year, compared to 150 per dollar in its previous forecast (the yen traded at around 158 on Tuesday). The currency's decline will boost its annual profit by about $3 billion, according to its financial forecasts.

Last week's joint U.S.-Japan intervention helped stabilize the yen, but it still remains down more than 6% over the past year.

A weaker yen can help Japanese exporters in two ways. It makes the profits they earn in the U.S. bigger when translated back. It can also make products exported from Japan cheaper to overseas buyers. The weakness of Asian currencies like the yen or Chinese yuan (and strength of the dollar) has fueled criticism in the past from President Trump, who has argued Asian exporters are getting an unfair advantage over U.S. companies.