Toyota Motor announces cut in Hino Motors' FY09 outlook

29/10/2008 21:11. (RTTNews) - Wednesday, Japanese automaker Toyota Motor Corp. (TM: News ) announced amendments to the fiscal 2009 forecast for its unit Hino Motors, Ltd. citing the unit's recent business performance.

On a consolidated basis, the company now expects full-year net income of 2 billion yen or 3.49 yen per share for Hino Motors, a decline of 90.9% from previous forecast of 22 billion yen or 38.34 yen per share.

Net revenues are now expected to be 1.25 trillion yen, down 12% from 1.42 trillion yen expected earlier.

In the previous year, the unit had recorded net income of 22.18 billion yen or 38.65 yen per share on net revenues of 1.37 trillion yen.

The company lowered its operating income projection for the unit by 67.4% to 15 billion yen from previous forecast of 46 billion yen, and... // RTT News