business

Toyota annual net profit drops by a quarter

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By Kazuhiro Nogi

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Japanese car giant Toyota said Wednesday its annual net profit fell by a quarter, despite record sales, blaming investment losses

This is not the whole story about its net profit fall compare to the previous year. Another big factor was Trump's tax cut, which contributed one time increase in profit ($2.24B) for that year. Hence the drop.

[T]his is largely due to specified factors that the net income of the same period of the previous fiscal year includes a positive impact of 249.6 billion yen ($2.24 billion) due to the US tax reform...

https://pressroom.toyota.com/releases/tmc-announces-financial-results-for-fiscal-year-ended-march-31-2019.htm

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