Advertisement
UK markets open in 4 hours 43 minutes
  • NIKKEI 225

    39,684.37
    +511.22 (+1.31%)
     
  • HANG SENG

    18,078.44
    +5.54 (+0.03%)
     
  • CRUDE OIL

    81.06
    +0.23 (+0.28%)
     
  • GOLD FUTURES

    2,326.20
    -4.60 (-0.20%)
     
  • DOW

    39,112.16
    -299.05 (-0.76%)
     
  • Bitcoin GBP

    49,149.54
    +1,540.63 (+3.24%)
     
  • CMC Crypto 200

    1,287.97
    +38.85 (+3.11%)
     
  • NASDAQ Composite

    17,717.65
    +220.84 (+1.26%)
     
  • UK FTSE All Share

    4,493.07
    -21.69 (-0.48%)
     

Toyota sees blockbuster Q4, but bumpy road ahead

STORY: Toyota enjoyed a blockbuster fourth-quarter, but sees a bumpy road ahead.

On Wednesday, the Japanese automaker forecast a 20% profit decline in the current financial year.

It cited looming investment in both its suppliers and strategy for the projected drop-off.

Despite that, Wednesday's results smashed market expectations.

Operating profit surged 78% in the January-March quarter.

While Toyota made a profit of $34.5 billion for the full year.

It was the first time a Japanese company had reached more than 5 trillion yen - or just under $33 billion, according to local media.

Toyota has been boosted by a weaker yen.

ADVERTISEMENT

It has also been a big winner from cooling demand for electric vehicles in some markets.

In the U.S. for instance, more customers have bought petrol-electric hybrids - which are Toyota's traditional strength.

Such vehicles made up more than a third of the 10.3 million cars it sold.

While battery-only EVs made up 1% of Toyota's global sales in the year just ended.

Toyota said it plans to invest almost $11 billion for growth this year in areas such as AI and software.

But the automaker also faces challenges in key markets such as China amid mounting competition from local rivals.