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

Toyota shares fall 3% despite higher net profit forecast

Investors worry cost surge will overwhelm boost from yen's depreciation

Japan's Toyota, the world's largest automaker, is facing a shortage of semiconductors and other challenges.   © Reuters

TOKYO -- Shares in Toyota Motors fell 3% on Thursday despite the carmaker raising its net profit forecast for the current fiscal year.

The Japanese auto giant said it now expects a net profit of 2.36 trillion yen ($17.6 billion) for the year ending March 2023, down 17.2% from the previous year. The profit decline is expected to be narrower than the 20.7% fall predicted in May. The improvement comes as Toyota adjusts its assumed exchange rate to 130 yen to the dollar, versus 115 yen in May.

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