Toyota Faces Profit Decline Amid Cooling Demand and Sales Forecast Cuts

Toyota reported a nearly 20% drop in second-quarter operating profit, missing analyst estimates, as it faces challenges in the shift towards electric vehicles. Despite a decline in sales volume and net profit, Toyota raised its full-year dividend forecast. The company has been cautious about fully embracing electric vehicles, citing potential job losses. Toyota has also faced multiple vehicle recalls and scrutiny over false data used in vehicle certification.