Prof­its go down at car gi­ant Toy­ota

7 Days in Dubai - - NEWS -

Toy­ota Mo­tor Corp says Jan­uary-March profit slipped 4 per cent year-on-year to 426.6 bil­lion yen (Dhs14.4 bil­lion). The Ja­panese au­tomaker is pro­ject­ing a 35 per cent plunge in profit for the fis­cal year through March 2017. Toy­ota said yes­ter­day it ex­pects 1.5 tril­lion yen in an­nual profit but warned that doesn’t ac­count for re­cent pro­duc­tion stops over sup­ply short­ages caused by a quake in south­west­ern Ja­pan. Toy­ota, which makes the Prius hy­brid, Camry sedan and Lexus lux­ury mod­els, has had record prof­its for three years straight. But the perks from a weak cur­rency that are a boon for Ja­pan’s ex­porters such as Toy­ota have dwin­dled in re­cent months. For the fis­cal year ended March, Toy­ota’s profit to­talled 2.3 tril­lion yen, which was up 6.4 per cent.

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