|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||54.83 - 55.86|
|52 Week Range||46.85 - 75.45|
|Beta (5Y Monthly)||1.01|
|PE Ratio (TTM)||21.25|
|Forward Dividend & Yield||1.41 (2.65%)|
|Ex-Dividend Date||Mar 30, 2023|
|1y Target Est||N/A|
Japan's Denso Corp, a leading supplier to Toyota Motor Corp, on Friday slashed its annual operating profit forecast by 12.5%, missing analysts' estimates, as it warned a chip shortage could cause auto production cuts. The company, a major manufacturer of automotive parts and chips, lowered its full-year operating profit forecast to 420 billion yen ($3.26 billion) for the year to end-March, from 480 billion yen expected previously. Denso said the new forecast took into account the pandemic's impact in China and the risk of vehicle production cuts due to the ongoing global semiconductor shortage, despite efforts being taken to reduce costs.
Toyota Motor Corp is expected to outline adjustments to its electric vehicle (EV) strategy to key suppliers early next year, as it races to narrow the gap on price and performance with industry leaders Tesla and BYD, two people with knowledge of the work said. Toyota has been looking at ways to improve the competitiveness of EVs being planned for this decade, in part by speeding up the adoption of performance-boosting technologies for planned EVs, from electric drive systems - including motors - to the electronics that convert power from the grid to energy stored in batteries and more integrated heating and cooling systems, the people said. The changes would be for the successors to Toyota's first two EVs for major markets, the bZ4X and the Lexus RZ, and intended to close the gap with Tesla Inc on cost and performance, the people said.
Denso Corp, Toyota Motor Corp's major supplier, reported a 76% rise in second-quarter operating profit on Friday, missing analysts' estimates. The revision comes after Toyota said last week its annual production plan for 9.7 million vehicles was likely to come in below it due to chips shortage. Toyota's announcement dampened hopes that the chip shortage would ease and allow automakers to increase production in the second half of the financial year to make up for constrained output in the first half.