URGENT: Toyota raises FY 2021 net profit outlook despite output cuts

Economy

Toyota Motor Corp. on Thursday raised its net profit outlook for the business year to next March to 2.49 trillion yen ($22 billion) despite the negative impact of production cuts due to a shortage of parts. Toyota previously forecast a net profit of 2.3 trillion yen for fiscal 2021 and the revised figure represents a 10.9 percent rise from a year earlier. Its operating profit is projected to rise 27.4 percent to 2.8 trillion yen, upgraded from the earlier estimate of 2.5 trillion yen, as sales will likely gain 10.2 percent to 30 trillion yen, the automaker said. For the first half ended in Sep...

Kyodo News

Kyodo News