Toyota FQ4 net profit slips 5.4%

Toyota's (TM) FQ4 net profit dropped to ¥297B ($2.9B) from ¥314B a year earlier, hurt by extra costs, including for R&D.

Sales climbed 12.5% to ¥6.57T ($64.5B).

Operating profit fell to ¥436B from ¥502B.

The company forecast that FY 2015 operating profit will rise to ¥2.3T from a record ¥2.29T last FY, although it expects sales to be flat at ¥25.7T.

The car-maker also predicted that net profit will slip 2.4% from ¥1.82T as demand in Japan declines following the increase in sales tax and the impact of the weaker yen wears off.

In FY 2014, Toyota benefited from the falling yen and cost cutting over the whole year, as well as increased vehicle sales mainly in Japan and North America.

Toyota aims to increase volume to 10.25M vehicles this FY from 10.13M, citing a recovery in the U.S. and Europe, although the company is cautious about emerging markets.

Toyota declared a year-end dividend of ¥100 a share. (PR)

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