business / news / / The Guardian
The world’s biggest carmaker said profits declined in its financial year to March.
Toyota reported a £3bn profit hit from the Iran war's impact on materials and sales.
KEY POINTS
- Toyota faces a 400bn yen increase in materials costs and 270bn yen loss in sales due to the conflict.
- Toyota projects its operating profit will drop to 3tn yen, declining for a third straight year.
- Japanese automotive industry is heavily impacted, with 70% of aluminium imports coming from the Middle East.
- Toyota states it cannot fully offset the negative 670bn yen impact from the Middle East turmoil.
COMPANIES
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