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Toyota Q1 Net Profit Down, Cuts FY Forecast On Yen Rally

Fakhir Rizvi Published August 04, 2016 | 03:48 PM

Toyota Q1 net profit down, cuts FY forecast on yen rally

TOKYO, (UrduPoint / Pakistan Point News - 4th Augst,2016) - Toyota on Thursday said its April-June net profit tumbled nearly 15 percent on-year, hit by a a sharp rally in the yen, while it also trimmed its full-year profit and sales forecasts. The world's top automaker posted a 552.5 billion Yen ($5.4 billion) net profit in its fiscal first quarter, down from 646.4 billion yen in the same period last year, while revenue fell 5.7 percent to 6.59 trillion yen.

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