Toyota showroom in Tokyo

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Japanese automotive big Toyota has seen income fall for the primary time in half a decade.

The agency stated it offered extra automobiles within the yr to March 2017 than within the earlier 12 months however that greater prices and forex fluctuations hit outcomes.

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

Toyota has warned subsequent yr’s income can be even decrease, because of the energy of the Japanese forex.

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

Toyota, which has lost its top-selling carmaker status to Germany’s Volkswagen offered 10.25 million automobiles over the yr, up from 10.19 million models a yr earlier.

Nonetheless earnings 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 equivalent to sport utility automobiles, which have develop into extra inexpensive to drive due to decrease petrol costs.

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