Toyota expects $4.3 billion hit from Iran war fallout
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Toyota anticipates a $4.3 billion impact from the Iran war this financial year, marking a significant warning for global companies. The automaker reported a nearly 50% drop in quarterly earnings and expects a 20% decline in full-year profit due to rising costs and supply chain disruptions. Despite a surge in hybrid vehicle demand, the overall outlook remains bleak, with an expected operating profit of 3 trillion yen, below analyst forecasts. Toyota's shares fell 2.2% following the report, reflecting investor concerns amid rising energy prices and ongoing challenges from tariffs and competition.
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Source: CNA The copyright of this article belongs to the original author/organization.
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