TOKYO - Toyota shares jumped 4.6 percent to a nine-month high in Wednesday morning trading in Tokyo following a US government report that ruled out electronic flaws in runaway Toyota vehicles.

The Japanese automaker welcomed the findings as confirming the reliability of its cars. Toyota Motor Corp stock finished the morning session at 3,650 yen ($44) on the Tokyo Stock Exchange, the highest since its close on May 13, buoyed by the results of the 10-month investigation. Overnight on Wall Street, Toyota gained by more than 4 percent to close at $88.57.

Toyota, the world's biggest automaker by car sales, revised its full-year earnings and sales forecasts on Tuesday, citing booming sales in China and other high-growth markets, which was also a boon for shares.

After recalling more than 12 million vehicles globally for a range of defects since late 2009, the big lingering question was whether there was a problem with the electronic systems in Toyota cars.

Such a problem would have possibly resulted in more recalls, as such systems are in every Toyota vehicle. It would have further shattered the once sterling image for quality production that the automaker had boasted for decades.

"We believe that the results of the US Department of Transportation's investigation confirm the reliability of our electronic throttle-control systems," Toyota said in a statement. "We intend to continue to listen to our customers even closer and to offer not only safe vehicles, but vehicles that provide peace of mind."

Toyota executives have repeatedly said they have tested the vehicles many times, looking for possible electronic problems, and have never found any.

In Washington, the Department of Transportation said its investigation with NASA found that electronic flaws weren't to blame for the reports of sudden unintended acceleration that led to massive recalls of Toyota vehicles. According to the investigation, some of the cases could have been caused by mechanical defects - sticking accelerator pedals and gas pedals that can become caught under floor mats - that have been dealt with in recalls.

Some of the cases may have been caused by driver errors, such as hitting the gas when they meant to brake, it said.

"We feel that Toyota vehicles are safe to drive," Transportation Secretary Ray LaHood said.

Toyota has promised to beef up quality control and be quicker in responding to consumer complaints. But analysts say it is likely to take some years before Toyota can hope to fully regain the trust of American buyers.

The automaker may still be held liable in class-action lawsuits in the United States because accidents could have been caused by the mechanical problems that the study has found, and doubts could continue to be raised about electronic problems.

Toyota paid the US government a record $48.8 million in fines for three recalls. Still, Toyota is on a roll in markets outside the US, such as Asia, South America and Africa, where the number of vehicles sold is still relatively small but the growth potential is huge.

The company raised its projection for global vehicle sales on Tuesday to 7.48 million vehicles in the year through March, up from an earlier forecast of 7.1 million vehicles, and marking a 3 percent increase from 7.24 million in the previous fiscal year.

Associated Press