Tokyo, November 01 (QNA) – Toyota Motor Corp. said Tuesday its net profit in the six months ended September fell 23.2% to 1.17 trillion yen about ($7.9 billion) from a year earlier, as soaring material costs offset the positive impact of a weak yen.
Operating profit dropped 34.7% to 1.14 trillion yen in the April-September period on sales of 17.7 trillion yen, up 14.4%, Japan’s (Kyodo) News Agency reported on Tuesday.
For the current fiscal year ending March, the automaker left its net profit forecast unchanged at 2.36 trillion yen. The company raised its sales outlook to 36 trillion yen from 34.5 trillion yen.
The company cut its full-year production plan to 9.2 million vehicles from the previous 9.7 million, citing a semiconductor shortage.
(QNA)