TOKYO May 10 Toyota Motor Corp
forecast on Wednesday a 20 percent fall in operating profit this
year as the world's second largest automaker expects global
vehicle sales to remain largely flat while it expects increased
expenses from marketing activities.
Toyota expects operating profit to come in at 1.6 trillion
yen ($14.06 billion) in the year to March, below an average
estimate of 2.3 trillion yen from 25 analysts polled by Thomson
Reuters I/B/E/S, and less than the 1.99 trillion yen profit
posted in the year just ended.
Toyota's forecast is based on a projection that the yen will
average around 105 yen to the U.S. dollar in the year through
March, compared with 108 yen in the year just ended.
The automaker also said it would buy back up to 1.65 percent
of its own shares, worth 250 billion yen.
($1 = 113.7700 yen)
(Reporting by Naomi Tajitsu; Editing by Miral Fahmy and