TOKYO, Nov. 1 (Xinhua) — Toyota Motor Corp. on Tuesday reported 1.171 trillion yen (7.96 billion U.S. dollars) of net income, a 23-percent decline year on year, for the fiscal first half ending September, due to dramatic changes in the business environment.
During the six-month period from April to September, sales revenue of the automaker went up 14 percent from a year ago to 17.71 trillion yen, the company said.
Meanwhile, its operating income dropped 35 percent to 1. 14 trillion yen.
While production constraints continue amid a low supply of semiconductors, operating income decreased due to soaring materials prices and one-time costs despite the positive effect of the yen’s depreciation, said the company.
The company’s operating income for this fiscal year would drop 20 percent from a year ago to 2.4 trillion yen, with its net income down 17 percent to 2.36 trillion yen, according to predictions of the financial results.
Due to risks such as the procurement of semiconductors, Toyota has decided to revise its global manufacturing plan for the fiscal year to 9.2 million units, down 500,000 units from its previous forecast.