Toyota’s net profit down by almost 50%

Toyota Motor Corp. announced that its full-year net profit is expected to fall to ¥180 billion (US$2.3 billion) from its previous forecast of ¥390 billion (US$5.1 billion), as a result of the strong yen and disruptions in the supply chain caused by the flooding in Thailand. Japan’s largest car maker’s operating profit is also expected to fall to ¥200 billion (US$2.6 billion) from an earlier forecast of ¥450 billion (US$5.9 billion). Sales are expected to reach ¥18.2 trillion (US$ 239 billion) instead of the projected ¥19 trillion (US$249.5 billion). (December 9, 2011)