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Toyota forecasts profit drop as challenges grow
Toyota forecasts profit drop as challenges grow

Toyota Motor Corp. forecast that profit will fall from last year's record as demand slumps in Japan, competition intensifies in the U.S. and the yen is no longer the boon it used to be. Net income will probably slip to 1.78 trillion yen, or $17 billion, in the fiscal year that ends March 31, 2015, the Toyota City, Japan, automaker said Thursday. Toyota forecast profit that was 12% below the average analyst estimate compiled by Bloomberg. President Akio Toyoda led the company founded by his grandfather to an unprecedented 1.82-trillion-yen, or $17.9-billion, profit in the 2014 fiscal year, as a weaker yen boosted the value of sales from Prius hybrids and Lexus vehicles exported...

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