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Toyota has seen profits fall for the first time in half a decade

The profit of 1.83 trillion yen ($16.1bn; £12.4bn) was down 21% from 2016-17.
Image copyright Getty Images Japanese car giant Toyota has seen profits fall for the first time in half a decade.
Toyota has warned next year’s profits will be even lower, due to the strength of the Japanese currency.
US investment Toyota, which has lost its top-selling carmaker status to Germany’s Volkswagen sold 10.25 million vehicles over the year, up from 10.19 million units a year earlier.
Earlier this year Toyota said it would invest $10bn (£8.2bn) in the US over the next five years.

Toyota

according to Overall, Toyota posted a net profit of 1.83 trillion yen ($16 billion) on slightly lower revenue of 27.6 trillion yen in the recently ended year to March — more than 20 percent down from a record 2.31 trillion yen net profit the previous year.
Honda last month said its annual net profit jumped nearly 80 percent, largely owing to a drop in costs tied to a massive recall of airbags made by key supplier Takata.
Vehicle sales in the past fiscal year ticked up to 10.25 million units from 10.09 million a year earlier.
This past fiscal year has seen sharp moves in the currency, with it surging after Britain’s shock vote to exit the European Union boosted demand for the safe haven asset.
Toyota, which lost its crown last year to Volkswagen as the world’s top-selling automaker, warned it expects a net profit of 1.5 trillion yen in the current year to March 2018 — way off market expectations of around 1.9 trillion yen.

 

Toyota and hybrid maker posted a profit of ($16 billion) on slightly lower

Toyota

according to The Corolla and hybrid maker posted a profit of 1.83 trillion ($16 billion) on slightly lower revenue of 27.6 trillion for the recently ended year to March — well down from a record 2.31 trillion net profit the previous year.
said on Wednesday that its annual net profit fell for the first time in five years, with the Japanese automaker unexpectedly warning of more declines as a stronger takes a bite out of its bottom line.
Toyota, which lost its crown last year to Volkswagen as the world’s top-selling automaker, expects a net profit of 1.5 trillion in the current year to March 2018 — way off market expectations around 1.9 trillionVehicle sales in the past fiscal year ticked up to 10.25 million units from 10.19 million vehicles a year earlier.Unit sales in the key North American market remained flat, while registered a pick up in Europe, Japan and the rest of Asia.Demand dropped in Central and South America, Africa and West Asia, it said.Japanese exporters, including major automakers like and Nissan, have benefited in recent years from a sharp drop in theA weaker boosts the bottom line by making their products relatively less expensive overseas while inflating the value of profits earned abroad.But this past fiscal year has seen sharp moves in the currency, with the Japanese unit surging after Britain’s shock vote to exit the European Union boosted demand for the as a safe haven currency.The trend briefly reversed course after billionaire Donald Trump’s November US presidential election win fanned expectations that his big-spending, tax-cutting agenda would fire up inflation and push the Federal Reserve to hike interest rates.A rate hike tends to lift the dollar against other currencies.

 

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