Toyota warns of 64% drop in full-year net profit


Japanese car manufacturer Toyota has warned of a 64% drop in full-year net profit and it posted a slump in its quarterly earnings. – EPA file pic, August 6, 2020.

TOYOTA today warned of a 64% drop in full-year net profit and reported a slump in quarterly earnings, as the coronavirus pandemic shreds the global auto market.

Japan’s top car maker, which had previously declined to give a bottom-line forecast because of ongoing uncertainty, now projects net profit at 730 billion yen (RM28.9 billion) for the fiscal year to March, down from 2.07 trillion yen the previous year.


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