Toyota warns of 64% drop in full-year profit

Toyota on Thursday warned of a 64 percent 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 ($6.9 billion) for the fiscal year to March, down from ¥2.07 trillion the previous year.