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

Toyota raises full-year profit forecast on exchange rate gains

Earnings downgrade in all but name mirrors auto giant's push for cost cuts

TOKYO -- Toyota Motor on Thursday raised its full-year net profit forecast through March 2022, expecting the impact of recent production cuts to dissipate, along with chip shortages.

But the Japanese automaker stressed in its latest earnings announcement that the upward revision stems largely from a weaker yen and other favorable market conditions, and is "in substance a downward revision." It predicted lower unit sales for the year and sounded the alarm over soaring prices for raw materials.

Sponsored Content

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

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

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