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Toyota forecasts abrupt profit drop on Iran, shares fall

The Japan Times·Nicholas Takahashi·25 days ago
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#toyota#carmakers#iran#middleeast#fuelshock#materials
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Toyota, known for conservative forecasts, is bracing for prolonged pressure on the price and supply of key materials due to disruptions linked to the conflict in Iran. | BLOOMBERG Toyota Motor forecast an abrupt drop in operating profit as the world’s largest carmaker braces for higher costs of raw materials because of disruptions stemming from the conflict in Iran. The stock reversed gains and fell as much as 2.2% after the company issued an outlook for ¥3 trillion ($19.1 billion) in operating income for the fiscal year ending March 2027. That was short of the average consensus estimate for ¥4.6 trillion and the ¥3.8 trillion in the prior period. Toyota, known for playing it safe when forecasting results, is bracing itself for a squeeze on the price and supply of crucial materials that could last for months. Toyota suppliers warned last week that they are starting to see shortages in key materials due to the Iran conflict, now in its third month.…

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