Toyota showroom in Tokyo

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Japanese automobile big Toyota has seen earnings fall for the primary time in half a decade.

The agency mentioned it bought extra automobiles within the 12 months to March 2017 than within the earlier 12 months however that greater prices and foreign money fluctuations hit outcomes.

The revenue of 1.83 trillion yen ($16.1bn; £12.4bn) was down 21% from 2016-17.

Toyota has warned subsequent 12 months’s earnings will likely be even decrease, because of the power of the Japanese foreign money.

The carmaker’s prediction is predicated on a forecast that the yen will common round 105 to the US greenback within the 12 months by means of to March 2018, in contrast with 108 yen within the final monetary 12 months.

Toyota, which has lost its top-selling carmaker status to Germany’s Volkswagen bought 10.25 million automobiles over the 12 months, up from 10.19 million items a 12 months earlier.

Nevertheless revenue from these gross sales was barely down at 27.6 trillion yen.

The carmaker has been struggling within the US, its largest market. Gross sales fell in North America because it battled to satisfy demand for larger automobiles resembling sport utility automobiles, which have turn into extra inexpensive to drive due to decrease petrol costs.

Earlier this 12 months Toyota mentioned it might make investments $10bn (£eight.2bn) within the US over the next five years.