Toyota today said its nine-month net profit fell 57.5% to 162 billion yen ($2.12 billion), blaming the continued impact of the March 11 disaster, Thai floods and a strong yen.
The company said operating profit also slumped by 72.3% to 117 billion yen in the nine months to December, with revenue down more than 10% to 12.88 trillion yen on year.
But the Japanese car giant raised its full-year profit forecast to 200 billion yen, up 11.1% from the outlook it released in December. However, if realised, the figure would still be less than half that of the previous year.
The maker of the Prius hybrid and Lexus said it expected to sell 7.41 million units worldwide in the year to March, 30,000 units more than its December forecast, and to post 18.30 trillion yen in revenue.
"Toyota remains committed to pursuing an improvement of its earnings structure through various cost reduction activities as well as continuing the production recovery from the Japan Earthquake and floods in Thailand," the company said.
