Toyota expects operating profit to drop for 2nd consecutive year

Toyota Motor Corp. said Wednesday it expects its group operating profit to drop for a second consecutive year for the first time in 18 years in the current business year, as the strong yen and a slowdown in its key U.S. market will take a heavy toll on its overseas operations.Japan's largest automaker projects a 19.8 percent drop in group operating profit to 1.6 trillion yen ($14.1 billion) for the current business year after posting a decline for the past year ended in March, the first in five years.Its group net profit is projected to fall 18.1 percent to 1.5 trillion yen on sales of 27.5…READ FULL ARTICLE