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Toyota Q3 Profit Drops; Cuts FY Profit View

Japanese automotive giant Toyota Motor Corp. (TYT.L,TM) reported that its net income attributable to the company for the third-quarter dropped to 180.92 billion yen or 62.12 yen per share from last year's 941.85 billion yen or 314.99 yen per share in the previous year, reflecting unrealized losses on equity investments.

But, operating income increased to 676.13 billion yen, from 673.65 billion yen last year

Net revenues for the quarter totaled 7.80 trillion yen, higher than 7.61 trillion yen reported a year ago.

The company lowered its full-year net profit forecast to 1.87 trillion yen from a previous outlook of 2.30 trillion yen, but reiterated its annual operating profit projection of 2.40 trillion yen and consolidated net revenue of 29.5 trillion yen.

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