Connect with us

News

Toyota Lifts Profit Forecast Despite US Tariff Pressure

Published

on

Toyota

Toyota profit forecast improves despite US tariff pressure, as cost cuts and strong global sales lift earnings expectations

Toyota Motor Corporation has raised its profit and sales forecasts for the current financial year, despite facing fresh cost pressures from United States tariffs on Japanese auto exports.

Also read: Anambra Police Neutralise Armed Robbery Suspects

adron lemon friday

The Japanese carmaker said on Friday that it had mitigated the negative effects of the tariffs through aggressive cost reductions and targeted marketing initiatives.

For the financial year ending March 2026, Toyota now expects net profit to reach 3.57 trillion yen, up from its earlier projection of 2.93 trillion yen. Operating profit is forecast to rise to 3.8 trillion yen, compared with a previous estimate of 3.4 trillion yen.

Sales revenue is projected to hit 50 trillion yen, up from an earlier forecast of 49 trillion yen.

In a statement, the company said that although the US tariffs had a negative impact during the fiscal year, decisive internal measures had helped curb the extent of the profit decline.

However, Toyota said profit performance weakened during the September to December quarter, with both net and operating income falling despite higher sales, largely due to tariff-related costs that increased overall expenses.

The revised outlook follows Toyota’s announcement last month that global vehicle sales reached a new record in 2025, enabling the company to retain its position as the world’s largest automaker and widen the gap with German rival Volkswagen.

The strong performance came despite flat sales in China, a key market where competition has intensified from domestic manufacturers, including electric vehicle leader BYD.

In the United States, Toyota recorded an eight per cent increase in sales despite a 25 per cent tariff on Japanese auto imports imposed by Washington between April and mid-September, before the rate was capped at 15 per cent.

Also read: Rivers Police Arrest Suspected Car Thieves in Port Harcourt

The company said its latest forecast reflects cautious optimism amid ongoing trade uncertainty, underscoring its resilience in a volatile global market.

74 / 100 SEO Score

News

CAN Demands Urgent Investigation into Video Threatening Christians

Published

on

CAN

CAN demands a probe of a viral video threatening Christians in Enugu and Jos, urging security agencies to identify those involved and ensure accountability (more…)

72 / 100 SEO Score
Continue Reading

News

NSCDC Panel Finds 37 Miners Died of Suffocation

Published

on

NSCDC

An investigative panel says 37 miners died of suffocation in NSCDC custody in Niger State and recommends compensation and disciplinary action (more…)

74 / 100 SEO Score
Continue Reading

News

Tinubu Knows Food Prices, Presidential Aide Says Amid Hardship

Published

on

Tinubu

Tinubu food prices are monitored through regular briefings, presidential aide Abiodun Essiet says, as Nigerians continue to face cost-of-living pressures

President Bola Tinubu is aware of the prices of everyday food items, including eggs and bread, and receives regular briefings on the economic challenges facing Nigerians, the Senior Special Assistant to the President on Community Engagement for the North-Central region, Dr Abiodun Essiet, has said.

Also read:FG Urges Investment in Youth, SMEs and Local Industries to Grow Economy

adron lemon friday

Essiet made the remarks while speaking to State House correspondents at the Presidential Villa in Abuja on Tuesday, dismissing suggestions that journalists were the only people who understood the hardship experienced by ordinary Nigerians.

She also serves as the President’s representative for the North Central Citizens’ Assembly.

“I don’t feel it’s only media people who understand what the people are facing. Some of the reality of what our people are facing is what we are communicating to Mr President,” she said.

Essiet added that the President and members of the Federal Executive Council were regularly informed about the cost of basic commodities and the challenges confronting households.

“I usually tell people, you think Mr President doesn’t know the price of egg or bread in the market? He does, because we brief him regularly, and so do members of the Federal Executive Council,” she said.

The presidential aide also highlighted infrastructure development as a key component of the administration’s agenda, citing public reactions during a visit to a section of the Mokwa-Bida road in Niger State.

According to her, residents turned out in large numbers during the visit because of longstanding concerns about the condition of the road and calls for its rehabilitation.

“Yes, infrastructure is the bedrock of any development. When we went to the Mokwa-Bida road, come and see the crowd, because that is the road that people have been calling for Mr President to address,” she said.

Essiet claimed that the road had last been awarded for construction 46 years ago and highlighted the dangers motorists and other road users faced while navigating the route.

“Do you know how many people have died trying to manoeuvre that road? Trailers have had accidents trying to manoeuvre that road,” she added.

She said Tinubu had directed that the road be reconstructed using reinforced concrete rather than conventional asphalt, with the aim of improving its durability.

“Mr President said they should award the contract and make sure that the contract will be reinforced concrete, not just asphalt,” Essiet stated.

Her comments come amid continued public concern over food affordability and the cost of living.

On October 19, Vice President Kashim Shettima expressed optimism that food prices would decline in the coming weeks as the administration responds to challenges affecting agriculture.

Shettima made the statement at a forum titled “Together till 2027: An Evening with Original City Boy”, organised by the City Boy Movement alongside the Relax-Tinubu-Is-Fixing-Nigeria movement, groups supporting the President’s re-election bid.

Also read:FG Urges Investment in Youth, SMEs and Local Industries to Grow Economy

Essiet was appointed Senior Special Assistant to the President on Community Engagement for the North-Central region in 2024.

63 / 100 SEO Score
Continue Reading

Trending News