• SHARE

Toyota Motor Corp. has maintained its profit outlook for the current year, underscoring the carmaker’s concerns over its ability to produce vehicles amid parts shortages, rising material costs and pandemic disruptions in China, and even as a weaker yen boosts income in its home currency.

Toyota shares fell as much as 3.9% after the world’s biggest automaker kept its forecast for operating profit of ¥2.4 trillion ($18 billion) for the fiscal year through March, short of analysts average projection of ¥3.3 trillion. Profit also fell short of estimates in the April-June quarter, at ¥579 billion versus the prediction of ¥808 billion.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)