Toyota again ups FY 2020 net profit outlook to 1.9 tril. yen

Toyota Motor Corp. raised Wednesday its fiscal 2020 earnings forecast, saying it expects a net profit of 1.90 trillion yen ($18 billion) following a steady recovery in auto demand in the U.S. and Chinese markets despite the coronavirus pandemic and a global semiconductor shortage.Toyota previously forecast a net profit of 1.42 trillion yen for the year through March 31. The revised figure is 6.7 percent down on fiscal 2019.The Japanese automaker lifted its global auto sales outlook for fiscal 2020 to 9.73 million units from its earlier target of 9.42 million units.The upward revision came i…READ FULL ARTICLE