Thai floods to chop $1.55B from operating profit—Toyota

TOKYO—Toyota on Friday said record flooding in Thailand would take a $1.55 billion bite out of its full-year operating profit, as the disaster hammered its production in the country.

The automaker said the impact of the floods would be about 120 billion yen ($1.55 billion) as it cut its operating profit outlook to 200 billion yen, well down from its earlier 450 billion yen forecast.