Toyota Motor forecast a 20% profit decline in the current financial year on Wednesday, citing looming investment in both its suppliers and strategy after it delivered blockbuster fourth-quarter earnings.
Item 1 of 2 The logo of Toyota Motor Corp is seen on the company's hydrogen fuel-cell concept car Toyota FCV PLUS at the company's showroom in Tokyo, Japan, May 11, 2016. REUTERS/Toru Hanai/File PhotoThe logo of Toyota Motor Corp is seen on the company's hydrogen fuel-cell concept car Toyota FCV PLUS at the company's showroom in Tokyo, Japan, May 11, 2016.
The Japanese automaker was long criticised for pursuing its "multi-pathway" strategy championing hybrids and plug-in hybrids as well as EVs, a stance that is increasingly looking prescient given consumer concerns about EV driving ranges and the availability of charging stations. "Even though our operations are run very efficiently, there are many things that still need to be changed to some extent," he said, referring to shifts in the manufacturing process as Toyota makes the leap from automaker to mobility company.
RATI:FINANCIAL-RESULTS MTPIX AUT AUTO BACT BIZ CARM CARM1 CMPNY CYCS CYCS08 ELEAV NEWS1 PUBL RES RESF EASIA ASXPAC ASIA JP TOPNWS RULES:RESULTS REPI:TECHNOLOGY RATI:ADAS-AV-SAFETY RATI:ELECTRIC-BATTERY EHVEH GEN SCI TOPCMB
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