Toyota shrugs off chip shortage with higher profit outlook
Toyota CFO Kenta Kon says the company sees no impact from the chip shortage in the short term
10 February 2021 - 16:53
Tokyo — Toyota Motor, the world’s top-selling carmaker in 2020, on Wednesday raised its profit outlook for the fiscal year through March, another sign the Japanese company is powering ahead as it recovers from the pandemic.
Toyota forecast an operating profit of ¥2-trillion ($19bn), up from ¥1.3-trillion set in November. Analysts were on average projecting ¥1.5-trillion. For the October-December quarter, Toyota reported a profit of ¥988bn, compared with predictions for ¥571bn. ..
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