Toyota takes 23 percent hit to profit on lower sales, yen

Analysts expect net profit to come in at 1.721 trillion yen for the year, and operating profit at 2.02 trillion yen. It also sees a higher operating profit of 1.85 trillion yen versus 1.7 trillion yen stated in November. The Japanese automaker expects net profit through March to come in at 1.7 trillion yen ($15.08 billion), compared with a previous forecast for 1.55 trillion yen. Of the record 2.449 million vehicles Toyota sold in the United States last year, around half were imported, according to the automaker. Toyota Motor Corp <7203.T> on Monday raised its full-year profit forecast by 9.7 percent as the world's No.


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Toyota takes 23 percent hit to profit on lower sales, yen

The change from 2015-2016 cost the company 205 billion yen ($1.8 billion) in quarterly operating profit, Toyota said. The forecast is better than its earlier projection of 1.6 trillion yen ($14 billion) profit, but below the 2.3 trillion yen earned in the previous fiscal year. The company, which recently relinquished the crown of world's biggest automaker to German rival Volkswagen, reported its fiscal third quarter profit was 486.5 billion yen ($4.3 billion), down from 627.9 billion yen in 2015. (Carlos Osorio, File/Associated Press)TOKYO — Toyota Motor Corp. said Monday that its profit fell 23 percent in the October-December quarter from a year earlier as its sales fell and a stronger yen squeezed its overseas earnings. Toyota Motor Corp. said Monday, Feb. 6, that its profit fell 23 percent in the October-December quarter from a year earlier as its sales fell and a stronger yen bit into its overseas earnings.




The change from 2015-2016 cost the company 205 billion yen ($1.8 billion) in quarterly operating profit, Toyota said. The forecast is better than its earlier projection of 1.6 trillion yen ($14 billion) profit, but below the 2.3 trillion yen earned in the previous fiscal year. The company, which recently relinquished the crown of world's biggest automaker to German rival Volkswagen, reported its fiscal third quarter profit was 486.5 billion yen ($4.3 billion), down from 627.9 billion yen in 2015. Quarterly sales of the maker of the Prius hybrid, Camry sedan and Lexus luxury cars slipped 3.5 percent to 7.1 trillion yen ($63 billion). It raised its full year profit forecast through March 2017 to 1.7 trillion yen ($15 billion), noting it expects more favorable exchange rates.


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