Toyota operating profit growth to drop this year on revenue slip


Toyota Motor forecast lower growth in operating profit for the current year on an expected drop in revenue and weaker vehicle sales in Japan and North America, underscoring the hard task ahead as it gears up to face a rapidly shifting industry.

Japan's largest automaker said it expects profit to rise 3.3 percent to 2.55 trillion yen ($23.20 billion) in the year to March 2020, slightly lower than the 2.61 trillion yen average of 23 analyst estimates compiled by Refinitiv and compared to last year's 20 percent jump.

While it forecast global group retail sales at a record 10.74 million vehicles for the current year, compared with...READ MORE HERE