Toyota braces for US trade tension

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Tokyo - Toyota raised its full-year operating profit forecast - albeit falling short of analysts’ estimates - as the carmaker finds a balance between the benefits of a weaker yen on exports of its Prius and Lexus models and the impact of rising trade tensions under US President Donald Trump.

Operating profit will probably be ¥1.85trn in the fiscal year through March, up from its previous forecast of ¥1.7trn but about 10% lower than what analysts estimated. The Toyota City, Japan-based automaker reported third-quarter operating profit declined 39%, also missing consensus estimates.

Even with the benefits of a weaker yen boosting repatriated profits, Toyota must contend with possible trade tensions after Trump criticized the automaker’s plans to build a Corolla plant in Mexico.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.15
-0.2%
Rand - Pound
19.96
-0.2%
Rand - Euro
17.19
-0.1%
Rand - Aus dollar
11.00
-0.1%
Rand - Yen
0.13
-0.0%
Gold
1,843.76
0.0%
Silver
27.42
0.0%
Palladium
2,894.50
0.0%
Platinum
1,229.50
0.0%
Brent Crude
68.71
+2.5%
Top 40
60,573
+0.6%
All Share
66,598
+0.7%
Resource 10
69,386
-0.1%
Industrial 25
83,277
+0.9%
Financial 15
12,685
+1.5%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1456 votes
No, I did not.
52% - 3629 votes
My landlord refused
27% - 1927 votes
Vote