Toyota of Japan Reports Profit Decline Due to President Trump's Tariffs
Profit Decline: Toyota reported a 7% year-on-year drop in net profit for the April-September period, totaling 1.77 trillion yen ($11.5 billion), impacted by U.S. tariffs on Japanese automakers.
Revised Forecast: Despite the profit decline, Toyota raised its full fiscal year profit forecast to 2.93 trillion yen ($19 billion), citing improved vehicle sales and cost-cutting measures.
Sales Growth: The company experienced sales growth in both the U.S. and Japan, selling over 1.5 million vehicles in North America and 970,000 in Japan during the first half of the fiscal year.
Financial Performance: For the latest quarter, Toyota reported a 62% increase in profit to 932 billion yen ($6 billion) on sales of 12.38 trillion yen ($80 billion), reflecting an 8% year-on-year growth.
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