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Toyota Predicts 2nd Straight Net Profit Fall

[1st Aug, 2021]

Toyota Motor on Wednesday said it expects a second straight year of profit declines for the 12 months through next March. It blamed slowing sales in the U.S. and heavy investment plans.

The subdued estimate also reflects Toyota’s cautious view on the foreign exchange rate — 105 yen to the dollar. In fiscal 2016, the yen traded at an average of 108 to the greenback. (NEWSONJAPAN)