Toyota to double full-year profit forecast to more than over 1t yen: media
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[TOKYO] Toyota Motor Corp will likely more than double its full-year operating profit forecast when it reports second quarter earnings on Friday as vehicle sales rebound in the United States and China, the Mainichi daily reported.
Japan's top automaker is likely to project an operating profit of more than 1 trillion yen (S$13 billion) for the year to March 31, 2021, from the 500 billion yen projected in August, the Mainichi said, without citing sources.
A Toyota spokesman declined to comment on the report.
In its most recent forecast, Toyota predicted a full-year 500 billion yen operating profit, the weakest in nine years, following a slump in demand caused by the coronavirus pandemic.
That compares with a 2.47 trillion yen profit last business year.
The average estimate from 26 analysts polled by Refinitiv is for full-year operating profit of 1.25 trillion yen.
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Air India asks Tata, Singapore Airlines for funds after US$2.4 billion loss
Beijing’s calculated silence on the Iran war
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
