Toyota forecasts its annual profit to dive 31 percent, in an outlook that assumes a robust recovery from the earthquake and tsunami in the coming months, as AP reported. Toyota Motor Corp. had not given an earnings forecast earlier because of uncertainties about its production outlook after the March 11 disaster wiped out key parts suppliers in northeastern Japan. Toyota on Friday forecast a 280 billion yen ($3.5 billion) profit for the fiscal year through March 2012, down from 408 billion yen for the previous fiscal year. Most of its earnings will come in the second half of the fiscal year as it is expecting only a 10 billion yen ($125 million) profit for the first half, down drastically from 289 billion yen a year earlier. Its annual sales through March 2012 are projected to slip 2 percent to 18.6 trillion yen ($232.5 billion) from 18.99 trillion yen the previous year.
