Toyota and Honda announce their boosted net profit forecast in 2020

06.11.2020 - Petr Mazaylo
Toyota and Honda announce their boosted net profit forecast in 2020

On Friday, Toyota Motor Corp (7203.T) and Honda Motor Corp (7267.T) announced that they had doubled their operating profit forecasts in light of the recovering car demand in China as it rebounds from the coronavirus outbreak.

“If you compare our second quarter with the first, you can see a dramatic recovery,” Toyota’s Operating Officer Kenta Kon said in an interview after Japan’s biggest car manufacturer released its earnings results.

The Japanese multinational automotive manufacturer said that the car demand in the world’s biggest auto market had grown for six straight months. The firm’s market sales climbed by 12.8% in September 2020.

China’s overall economic recovery had also improved by 4.9% compared with its 3.2% growth in the previous three months.

“Given the yen’s appreciation (versus the dollar) and a resurgence of the coronavirus, we have to consider the profit forecast revision cautiously,” Nomura Securities’ Fund Manager Kazuo Kamiya stated.

Nissan Motor Co (7201.T) announced that it would post its second-quarter results next week.


Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?