TOKYO -- Amid concerns of higher raw material prices and prolonged semiconductor shortages, Toyota Motor expects a net income of 2.26 trillion yen ($17.4 billion) for the current business year through next March, down 20.7% annually.
The Japanese auto giant on Wednesday projected operating income of 2.4 trillion yen, down 19.9%, and revenue of 33 trillion yen, a 5.2% increase. The carmaker anticipates adding to the number of units, despite struggles with soaring raw material costs.
