URGENT: Toyota lifts FY 2023 net profit forecast to 4.5 tril. yen


Toyota Motor Corp. on Tuesday lifted its net profit forecast for the year ending March to 4.5 trillion yen ($30.3 billion) from an earlier projection of 3.95 trillion yen, helped by higher production amid an easing chip shortage.

Sales are now forecast at 43.5 trillion yen compared to a previous estimate of 43 trillion yen, the automaker said.

For the nine months ended Dec. 31, its net profit more than doubled from a year earlier to 3.95 trillion yen on sales of 34.02 trillion yen, up 23.9 percent, both a record high for the period, Toyota said.

Kyodo News

Kyodo News