Asian Tech Press (Feb 9) -- Japanese automaker Toyota Motor Corp announced a reduction in its FY2022 sales forecast to 8.25 million units due to a shortage of semiconductors.

Toyota Motor released its fiscal year 2022 third-quarter financial results on Wednesday, showing that its FY2022 (April 2021 - March 2022) sales revenue is expected to be 29.5 trillion yen ($255.68 billion). While in the previous earnings report, the expected figure was 30 trillion yen ($260.01 billion).

At the same time, the company has lowered its forecast for vehicle sales in fiscal year 2022 from 8.55 million units to 8.25 million units, which Toyota said is mainly due to the lack of chips and supply chain problems.

(US$1 = 115.3793 yen)