Tag: Japanese car

Toyota logs first annual profit fall in five years

  TOKYO, Japan (AFP) — Toyota on Wednesday reported its first drop in annual net profit for five years, while the Japanese car giant unexpectedly warned that the cost of customer incentives and a further pickup in the yen threatened to dig further into its bottom line. The downbeat forecast underscores how Japan’s automakers, including rivals Nissan and Honda, have benefited heavily from a slump in the currency in recent years. But sharp yen gains […]