Toyota Motor, Honda Motor report weaker net profit amid chip shortage
2 years, 10 months ago

Toyota Motor, Honda Motor report weaker net profit amid chip shortage

Live Mint  

BY KOSAKU NARIOKA | UPDATED 2月 09, 2022 12:18 午前 EST Toyota said third-quarter net profit fell 5.6%, while Honda reported a 32% decline Toyota Motor Corp. and Honda Motor Co. on Wednesday reported lower net profit for the quarter ended December as chip shortages weighed on their sales. Toyota said that its third-quarter net profit fell 5.6% compared with the same period a year earlier to 791.74 billion yen. Meanwhile, Honda said its third-quarter net profit fell 32% from a year earlier to Y192.96 billion as revenue dropped 2.2% to Y3.689 trillion. Honda expects its fiscal-year revenue to rise 10.5% to Y14.550 trillion and net profit to increase 1.9% to Y670.00 billion.

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