Toyota cuts full-year profit forecast by more than half
Tokyo - AFP
Toyota Friday slashed its full-year net profit forecast by more than half as Japan's biggest automaker grapples with a strong yen, the impact of the March earthquake and record flooding in Thailand. The company cut its outlook to 180 billion yen ($2.3 billion), well down from its estimate in August of a 390 billion yen profit, which was yanked as a result of the the Thai floods, which forced plant closures and supply-chain problems.
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