Toyota warns of $4.3bn Middle East hit as profit halved
Business
Toyota says the ongoing conflict in the Middle East could cost it about $4.3 billion in the current financial year (the year to the end of March 2027), mainly because of supply chain issues and rising costs.
The company's latest quarterly profit fell almost 50% compared with a year earlier (three months to March 31, 2025), to 569.4 billion yen (about $3.6 billion).
Toyota forecasts 5 million hybrid sales
Even though Toyota expects hybrid sales to top 5 million units for the first time, its annual profit forecast is still much lower than what analysts hoped for.
Higher energy prices and US tariffs have made things tougher too.
Shares slipped 2.2% as new CEO Kenta Kon faces a challenging road ahead.