Hyperdrive
Weak Yen Seen Boosting Toyota’s Profit, Focus on Annual Outlook
- Toyota projected to exceed guidance for latest fiscal year
- Outlook to shed light on chips, material cost and Covid impact
Toyota Motor Corp. vehicles for export at a port in Jakarta, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Strong sales and the yen’s historic fall are projected to boost Toyota Motor Corp.’s profit for the recent fiscal year, with the focus shifting to whether the world’s biggest carmaker can sustain growth in the face of economic headwinds and an uncertain supply outlook.
Analysts, on average, estimate that Toyota will show an operating profit of 3 trillion yen ($23 billion) for the period ended March when it reports results Wednesday. That would top the Japanese automaker’s most recent forecast for 2.8 trillion yen. Analysts are predicting a 3.4 trillion yen profit for the current year, which began April 1.