Toyota’s robust profit forecast

Toyota unveiled a ¥250 billion (about R32.2 billion) share buyback and expects to return to pre-pandemic profitability in the current year as its ability to churn out vehicles amid a global shortage of automotive chips puts it in a prime position.

Toyota forecast ¥2.5 trillion in operating profit for the 12 months that will end in March, compared with a ¥2.4 trillion profit in 2019, before the pandemic. –