Tokyo (Reuters) – Toyota Motor reduced its forecast for annual operational profit on Thursday, 16%, the Yen’s assessment and the increase in American customs duties weighing on its financial results.
The world’s largest automaker in the world has revised its annual operating profit objective, reduced to 3,200 billion yen 3.2 trillion (18.62 billion euros) against 3.800 billion previously, due to the repercussions of customs duties, the rise in prices for raw materials and monetary fluctuations.
Toyota said he expected that US customs duties reduce his profit from 1,400 billion yen for the entire fiscal year.
The group had previously estimated the impact at 180 billion yen for April and May, but so far has not published forecasts for the whole year.
Over April-June, Toyota declared an operating profit of 1,170 billion yen, down compared to the 1.31 Billion of Yen from the previous year, but above the expectations of analysts, which were tabling on 902 billion yen according to LSEG data.
(Report Daniel Leussink, Elena Smirnova, edited by Augustin Turpin)
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