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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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