Japan automaker profits expected to slow after blockbuster year

TOKYO -- Profit growth at six leading Japanese automakers is expected to slow in fiscal 2024 as they enjoy less room to raise output but face rising costs.

Toyota Motor, Honda Motor, Nissan Motor, Suzuki Motor, Subaru and Mazda Motor all forecast net profit increases for the year ended March 31, with Toyota, Honda, Nissan and Subaru predicting gains of around 50% to 80%. Toyota, Suzuki and Mazda expect record-high profits for the year.