Soleno Therapeutics tumbles despite Q3 earnings, revenue beat
Investing.com -- Toyota Industries reported a second-quarter operating loss of ¥14.9 billion, driven by a $299.5 million settlement payment related to its forklift engine certification issue.
The company has significantly reduced its full-year operating profit guidance from ¥180 billion to ¥100 billion. This revision includes a negative impact of ¥73.7 billion associated with the engine certification issue, which encompasses costs for forklift customer support.
Toyota Industries also increased its estimate of U.S. tariff effects for the full year from ¥3.5 billion to ¥25 billion. The company noted that the positive effects of yen weakness are insufficient to offset these negative factors.
In addition to financial guidance adjustments, the company lowered its full-year forklift sales volume target from 291,000 to 279,000 units. Other shipment forecasts were also revised downward, including a reduction in car air-conditioning compressor shipments from 31 million to 30 million units.
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