Toyota’s net profit between April and December 2022 fell
In the statement made by Toyota, the expectations for fiscal year 2022 were released with the latest balance data.
Consequently, net profit for the April-December 2022 period decreased by 18 percent compared to the same period in the previous fiscal year, to 1.9 trillion yen ($14.4 billion).
EXPECTED TO REACH $18 BILLION
Operating profit fell 17.1% to 2.1 trillion yen ($16 billion) in the 9-month period, with sales revenue rising 18% to 27.5 trillion yen (209 billion dollars).
In the balance sheet data, it was noted that the negative effects of the increase in raw material costs and the company’s withdrawal from Russia were felt.
The Japanese firm has lowered its global production target for fiscal year 2022, which ends in March 2023, to 9.1 million, due to supply problems, including semiconductor shortages.
Toyota expects fiscal year sales revenue to reach 36 trillion yen ($273 billion) and net profit to reach 2.36 trillion yen ($17.9 billion). (AA)
Source: Sozcu
Carla Rue is an author and automobile journalist who writes for 24 News Globe. She has a deep passion for cars and a talent for analyzing the latest developments in the world of automobiles.
