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."
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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