Toyota's Operating Profit Falls by 20%

Toyota Motor announced a 20% decrease in its second-quarter profit on Wednesday, impacted by slowing sales and production volumes. This marks the first decline in quarterly profit in two years.

The operating profit of 1.2 trillion yen fell short of the 1.4 trillion yen recorded in the same period last year. Analysts had expected an operating profit of 1.2 trillion yen.

In the first six months, net profit decreased by 26.4% to 1.9 trillion yen, while operating profit fell by 3.7% to 23 trillion 464 billion yen.

Toyota maintained its operating profit forecast for the current fiscal year at 4.3 trillion yen and net profit forecast at 3.57 trillion yen.