Toyota expects fiscal year profit to fall 31 pct

June 10, 2011 - 2:18 AM

TOKYO (AP) — Toyota says its profit for the fiscal year through March 2012 will fall 31 percent to 280 billion yen ($3.5 billion) in an outlook that underlines a robust recovery in the latter half of the fiscal year from the damage of the quake and tsunami.

Toyota Motor Corp. had not given an earnings forecast earlier because of uncertainties in its production outlook after the disaster wiped out key parts suppliers in northeastern Japan.

Last month, it said January-March quarterly profit crumpled more than 75 percent because of the parts shortage that is hurting production.