Largest car maker anticipates profit much less this year – TVI24

The world’s largest carmaker, Japan’s Toyota Motor, increased by 6.4% its profits in the last fiscal year, which ended March 31. Still, expectations for the whole of 2016 are not encouraging.

The group admits a 35% drop in net profits for the whole year, because of the appreciation of the yen (the Japanese currency) and slowdown of China’s economy and some emerging markets.

in any case, in the year ended in March, profits amounted to the equivalent of 18,667 million euros.

This result was achieved by reducing costs and the depreciation of the Japanese currency. The turnover of the group increased by 4.3% in the same period.