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Toyota expects 33% drop in profit due to tariffs and forex

Tariffs and unfavourable forex have caused Toyota to revise its profit forecast from -21% to -33%. By Jonathan Storey

Toyota posted a robust set of results for its fiscal first-quarter, earning a 9.5% operating margin, but expects the rest of the year to be downhill with an average 5.6% margin implied by its newly downgraded forecast. Tariffs and exchange rates dominate the weak outlook.

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