TOKYO — Japan’s top automaker Toyota raised its annual forecast Thursday after cost cuts and healthy sales quadrupled quarterly profits from the previous year.

As with other businesses that have operations in China, the threat of the virus outbreak remains.

Toyota Motor Corp. has halted production at all of its 12 plants in China, including four vehicle assembly plants.

The closure continues through Sunday, with a decision on future action coming Monday, according to Toyota.

Toyota reported a profit for October-December of $6.7 billion, four times the previous year. Quarterly sales slipped 3 percent to $68.6 billion.

The manufacturer of the Prius hybrid, Corolla compact and Lexus luxury models expects a profit through March 2020 of $21 billion. It had earlier projected a $20 billion profit.