Toyota Projects 35% Decline In Fiscal Year Operating Profit

Toyota Motor Corp TM issued its projections for the business year that began in April on Friday. Toyota projects operating profit to drop 35% to 300 billion yen ($3.7 billion). However, analysts expected 434 billion yen operating profit for the year. Toyota's operating profit in the year to March 2011 came in at 468.3 billion yen. Toyota projects global vehicle sales of 7.24 million units, down from 7.3 million units, in the last year. Toyota shares gained 0.21% to close at $81.92 yesterday. Read more from Benzinga's Company news.