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Toyota raises forecasts on weak yen
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eNCA - DSTV Channel 403
TOKYO - Japanese car giant Toyota on Tuesday raised its full-year profit forecasts on the back of the weak yen, days after Tokyo and Washington moved to boost the beleaguered currency.
For the current year to March 31, 2027, Toyota said it expects net income of 3.25 trillion yen ($20.6 billion), up from its previous projection in May of 3.0 trillion yen.
The forecast still foresees a fall in profit by 15.5 percent from the bumper 3.8 trillion yen that Toyota earned in 2024-25.
It predicted operating income of 3.4 trillion yen, up from the last forecast of 3.0 trillion yen, and revenues of 54.0 trillion yen, a rise of 6.5 percent from the previous year.
Operating income fell 8.8 percent to 1.1 trillion yen and revenues rose 10.4 percent to 13.5 trillion yen, Toyota said.