Toyota Motor Corp. reported a 9.7 percent fall in quarterly operating profit as an increase in investment spending outweighed brisk global sales, but analysts expect another year of growth backed by the dollar's recent rise.

The world's second-biggest auto maker said on Wednesday operating profit totaled 405.13 billion yen ($3.64 billion) for the first quarter ended June 30, falling short of a mean estimate of 443.33 billion in a survey of six brokerages by Reuters Estimates.

Net profit fell 6.9 percent to 266.90 billion, compared with a consensus estimate of 315.78 billion yen.

Toyota does not provide group-based profit forecasts. It kept its parent-only forecasts unchanged, projecting a net profit of 500 billion yen.

Japan's top auto maker has said it expects simply to match last year's record consolidated profits despite an expected spike in volume sales as it pours money into next-generation vehicle technology and new factories to satisfy burgeoning demand.

Toyota shares ended the three months to June 30 down 1.2 percent at 3,970 yen, compared with a 0.7 percent fall in the transport sector subindex ITEQP.

(Agencies)

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