TOKYO—Automotive parts manufacturer Toyoda Gosei Co. Ltd. has raised its full-year outlook for revenue while maintaining previously announced operating profit targets amid slow sales in Japan.
In its second-quarter results published Nov. 1, the Japanese group said it now expects sales to come in at $6.6 billion, up from the initial forecast of $6.2 billion.
The outlook for operating profit remained unchanged at about $310 million, as the local automotive industry continued to be impacted by semiconductor shortages.
During the three months to end of September, Toyoda Gosei reported a 0.7-percent year-on-year decline in operating profit to $87.9 million, on 67-percent higher sales of $3.3 billion.