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Toyota forecasts 80% decline in annual operating profit

All national dailies reported on an announcement on Tuesday by Toyota Motor that it is facing an 80% drop in operating profit this year. Akio Toyoda, president of Toyota, said that the shock from the coronavirus pandemic is far greater than that faced after the global financial crisis in 2008 that was triggered by the collapse of Lehman Brothers.


Honda Motor announced on Tuesday that its group net profit dropped 25.3% and its operating profit fell 12.8% in the business year ending in March, but it could not release any earnings forecasts for the current business year.

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