Volkswagen’s Japanese rival Toyota increased profits last fiscal year despite semiconductor bottlenecks.
In this financial year, however, the industry leader expects a significant drop in net income of 20.7% to 2.26 trillion yen (16.5 billion euros) due to higher material costs and the crisis. chips, as Toyota announced on Wednesday. The group, which also includes small-car maker Daihatsu and commercial vehicle maker Hino Motors, increased net profit by 26.9% to 2.85 trillion yen in the fiscal year ended March 31 despite shortages. semiconductor supply.
Cost reductions would have contributed to that, Toyota said. Sales rose 15.3% to 31.38 trillion yen. But material costs and the chip crisis are slowing the group: operating profit is expected to drop 20% to 2.4 trillion yen this fiscal year. Sales, on the other hand, will increase by 5% to 33 trillion yen.
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TOKYO (dpa-AFX)
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