Toyota issues muted profit forecast following blowout 2024 results

News Snapshot:

Toyota (TM), the world’s largest automaker by production, reported blowout results for its fiscal year 2024, though investor response was muted as the company issued a conservative outlook, reflecting heavy investments that need to be made as its business transforms. Toyota projects FY 2025 sales revenue will climb 2% to 46 trillion yen ($295.6 billion), with operating income slipping nearly 20% to 4.3 trillion yen ($28 billion) and net income dropping nearly 28% to 3.57 trillion yen ($23 billion). “We intend to draw up further growth strategies for sustainable growth. To that end, we will continue to focus on giving...