ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Toyota net profit drops 18% through December due to rising costs

Full-year forecast remains unchanged for Japanese automaker

Toyota faces continues to face chip shortages and high material costs. (Photo by Yuki Nakao)

TOKYO -- Toyota Motor on Thursday said net profit for the April-December period in the current fiscal year ending in March was 1.89 trillion yen ($14.4 billion), down 18% from the previous year, as it struggled to improve operations amid continuing chip shortages and high material costs.

The world's top-selling automaker kept its full-year net profit outlook unchanged at 2.36 trillion yen, down 17.2% from the previous year, but said it expected the effects of material cost increases to ease by 50 billion yen.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more