TOKYO (dpa-AFX) - Toyota Industries Corp. (TYIDY, TAH.F) reported Friday lower profit in its first half, despite revenue growth. Further, the company trimmed fiscal 2026 earnings view, but maintained outlook for net sales.
The company's first-half profit attributable to owners of the parent fell 38.2 percent to 91.12 billion yen or 303.22 yen per share from last year's 147.42 billion yen or 477.47 yen per share.
Operating profit declined 70.3 percent to 37.53 billion yen from 126.31 billion yen a year ago.
The company's net sales for the period, however, rose 2.1 percent to 2.06 trillion yen from 2.02 trillion yen last year.
Looking ahead, for the full year ending March 31, 2026, Toyota Industries now expects attributable net income of 180 billion yen or 599.05 per basic share, down 31.4 percent from last year.
The company previously expected net income of 240 billion yen or 798.74 yen per share, down 8.5 percent from last year.
The firm now anticipates operating profit of 100 billion yen, down 54.9 percent year-over-year
According to the firm, the profit guidance has been revised down due to a settlement payment and customer support expenses related to the U.S. class-action lawsuit stemming from the forklift engine certification issue, as well as the impact from U.S. tariffs.
Further, annual net sales are still projected to be 4 trillion yen, down 2.1 percent from the prior year.
In Tokyo, the shares were trading at 16,775.00 yen, down 0.36 percent.
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