Tokyo, Feb. 2, (dpa/GNA) - Japanese carmaker Toyota posted a drop in profits in the first nine months of the current fiscal year due to the ongoing shortage of microchips.
The industry leader on Thursday reported a net profit for the months of April to December of 1.9 trillion yen (14.5 billion dollars), a 18% drop compared to the same period last year. Sales rose 18% to 27.5 trillion yen.
The group, which also includes the small car specialist Daihatsu and the commercial vehicle manufacturer Hino Motors, continues to expect to post a net profit of 2.36 trillion yen for the full fiscal year ending on March 31, a decrease of 17.2% compared to the previous year.
The automotive giant lowered its worldwide vehicle production outlook to 9.1 million units for the fiscal year, down from an earlier projection of 9.2 million, amid a global shortage of semiconductors.
GNA