Toyota Motor Corp. became the first Japanese company to report annual sales topping ¥30 trillion, thanks in large part to brisk sales in China.
Group sales reached a record ¥30.23 trillion in fiscal 2018, a 2.9 percent increase from fiscal 2017, but this fiscal year sales are projected to dip 0.7 percent to ¥30 trillion, Japan's largest automaker said Wednesday.
The company forecast lower growth in operating profit for the current year based on an expected drop in revenue and weaker vehicle sales in Japan and North America, underscoring the hard task ahead as it gears up to face a rapidly shifting industry.