Toyota says its profit for the fiscal year to March 2012 will fall 31% to 280 billion yen ($3.5 billion) in an outlook that underlines a robust recovery in the latter half of the fiscal year from the damage of the earthquake and tsunami
Toyota had not given an earnings forecast earlier because of uncertainties in its production outlook after the disaster wiped out key parts suppliers in northeastern Japan.
Last month, it said January-March quarterly profit crumpled more than 75% because of the parts shortage that is hurting production.
The 9.0-magnitude earthquake and the resulting tsunami hammered production, shattered supply chains and crippled electricity-generating facilities, including a nuclear power plant at the centre of an ongoing atomic emergency.
Amid power and parts shortages, Toyota had announced production disruptions domestically and in the US, European Union, China and Australia because of the crisis, temporarily slowing output or shutting plants.
Toyota's forecast for the fiscal year ending March 2012 was below last year's net profit of 408.1 billion yen. Full-year sales were forecast at 18.6 trillion yen, compared with 18.99 trillion yen the previous year.
Operating profit is projected at 300 billion yen for the full year to March 2012, compared with 468.2 billion yen the previous year.
'We will step up production in the second half, strive to cut fixed expenses and make continuous efforts to reduce costs, which we expect will bring about 300 billion yen,' said executive vice president Satoshi Ozawa.
