Society | May 10

Toyota: Challenges ahead after record year

Executives at Japan's biggest carmaker Toyota Motor say the firm posted record sales and net profit for the fiscal year that ended in March.

Group sales jumped 6.5% year-on-year to 268 billion dollars, due to strong performance in China and Europe.

Net profit increased 36% to about 23 billion dollars, a windfall that executives attribute partly to a corporate tax cut by US President Donald Trump.

Toyota's president Akio Toyoda said the firm will continue to invest to drive future growth.

Toyoda said, "I believe the development of electric vehicles, self-driving technology and connectivity will expand the possibilities of the automobile. It will be an era when Toyota's strengths can be utilized more effectively."

But the road ahead contains some twists for Toyota, as executives predict both sales and profit will decline for the first time in 2 fiscal years.

They expect group sales to fall 1.3 percent amid sluggish demand in US and Japan and they forecast net profit will drop 15% as a stronger yen hits earnings from exports.

Source: ANNnewsCH


MORE Society NEWS

Currently, there's a rapid increase in individuals suffering from "spring fatigue." You might be affected without even realizing it.

The emergence of the Gifu butterfly, a harbinger of spring, has commenced once again this year in Fukuchiyama City, Kyoto Prefecture.

During a visit to Mie Prefecture, Princess Aiko, the daughter of Emperor Naruhito and Empress Masako, immersed herself in the rich tapestry of Japan's past at a museum within the sacred precincts of Ise Shrine on Wednesday morning.

POPULAR NEWS

JAXA has announced the revival of the unmanned explorer "SLIM" following its successful hibernation after making Japan's first moon landing. The probe successfully endured a second lunar night, a period during which temperatures can drop to as low as minus 170 degrees Celsius.

Somei Yoshino cherry trees are on the verge of full bloom in Tokyo, with forecasts indicating that the blossoms could be officially declared anytime. However, there is a risk of spring storms developing through Friday.

Seven-Eleven have extended the expiry date of its hand-rolled onigiri (rice balls), including salmon, plum, kelp, spicy cod roe, and tuna mayonnaise varieties.

The Japanese government finalized a new strategy on Wednesday aimed at the development of next-generation domestic aircraft, including initiatives for eco-friendly aviation technologies.

During a visit to Mie Prefecture, Princess Aiko, the daughter of Emperor Naruhito and Empress Masako, immersed herself in the rich tapestry of Japan's past at a museum within the sacred precincts of Ise Shrine on Wednesday morning.

FOLLOW US