Toyota lowers FY 2021 sales outlook on semiconductor shortage

Economy

Toyota Motor Corp. on Wednesday lowered its sales outlook for the business year to March to 29.50 trillion yen ($255 billion) due to the ongoing global shortage in semiconductors. Toyota previously forecast its sales at 30.00 trillion yen for fiscal 2021 and the revised figure represents an 8.4 percent rise from a year earlier. The automaker maintained its net profit projection at 2.49 trillion yen, up 10.9 percent from a year earlier. Its operating profit estimate also remained unchanged at 2.80 trillion yen, up 27.4 percent. For the three quarters ended December, Toyota saw a 57.8 percent in...

Kyodo News

Kyodo News