12 May 2011 | Angeline
disruption to Toyota’s car production caused by the Japanese earthquake has
contributed to the company missing profit forecasts by ¥81.8 billion (£620.8 million).
results for the 2011 financial year published yesterday, the automotive
manufacturer said suspension of vehicle production and a fall in a number of
sales caused by the earthquake in Japan last March meant it made less profit
than it had expected.
company made an operating profit of ¥468.2 billion yen (£3.5 billion) against a predicted
manufacturers have been forced to cut production at plants because of supply chain
disruption such as compulsory power cuts and problems getting parts to
factories. Toyota said production was not expected to return to normal until
November at the earliest.
Toyoda, president of Toyota said in a statement: “In Japan, we are currently
operating at about 50 per cent. We will mark that as the low point from which
we intend to increase production. As for production outside Japan, we are
currently producing at about 40 per cent. To all the customers who made the
decision to buy a vehicle made by us, I sincerely apologise for the enormous
delay in delivery.”
company statement added it “is carefully monitoring the situation in each
region and for each vehicle model and is every day working its hardest to
identify every way to restore production as much as possible.”
chose not to report other fiscal forecasts for the year ahead, because it said
it needed more time to understand the full
impact of the earthquake.