May 8, 2019 / 4:22 AM / 2 months ago

Toyota sees smaller-than-expected profit rise in 2019/2020

TOKYO, May 8 (Reuters) - Toyota Motor Corp forecast on Wednesday a 3.3 percent rise in operating profit for the current year due to cost reduction measures and changes to its depreciation methods.

Japan’s largest automaker expects profit to rise to 2.55 trillion yen ($23.20 billion) in the year to March 2020, slightly lower than the 2.61 trillion yen average of 23 analyst estimates compiled by Refinitiv. ($1 = 109.9300 yen) (Reporting by Naomi Tajitsu; Editing by Muralikumar Anantharaman)

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