Toyota Motor (TM) Slashes FY12 Net Profit Outlook 54%
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Toyota Motor (NYSE: TM) cut it's fiscal 2012 net profit from ¥390 billion to ¥180 billion.
Vehicle sales expected to be 7.38 million.
Sales outlook trimmed from ¥19.00 trillion prior to ¥18.20 trillion.
Operating profit more than halved from ¥450 billion prior to ¥200 billion.
Reasoning for the cuts:
"The full-year consolidated and unconsolidated financial forecasts for FY2012 were tentatively undecided because we could not make reasonable forecasts due to the effects of the 2011 floods in Thailand."
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Vehicle sales expected to be 7.38 million.
Sales outlook trimmed from ¥19.00 trillion prior to ¥18.20 trillion.
Operating profit more than halved from ¥450 billion prior to ¥200 billion.
Reasoning for the cuts:
"The full-year consolidated and unconsolidated financial forecasts for FY2012 were tentatively undecided because we could not make reasonable forecasts due to the effects of the 2011 floods in Thailand."
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