Toyota Lowers Fiscal-Year Profit Forecast

Toyota Motor Corp

lowered its net profit forecast by 54% for this fiscal year. Toyota now expects a net profit of Y180 billion, versus its earlier forecast of Y390 billion. It also cut its sales view to Y18.20 trillion, versus Y19.000 trillion. Toyota now projects operating profit of Y200 billion, versus Y450 billion. Toyota shares dropped 3.13% to $65.03 in after-hours trading.