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    A005490   KR7005490008

POSCO HOLDINGS INC.

(A005490)
  Report
End-of-day quote Korea Stock Exchange  -  2023-02-07
298000.00 KRW   -0.17%
02/01Posco : Pohang Works fully restored… All factories start operation from the 20th
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01/31Western Australia inks energy transition deal with S Korea
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01/27Posco : Q4 Earnings Snapshot
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Toyota lowers 2022 output target to 9.5 million units, it tells suppliers -sources

10/27/2022 | 07:31am EST
FILE PHOTO: A Toyota logo is displayed at the 89th Geneva International Motor Show in Geneva

TOKYO (Reuters) - Toyota Motor Corp has told several of its suppliers it has lowered its global production target for the year to 9.5 million units, two people familiar with the matter told Reuters on Thursday.

The world's largest automaker by sales said last week it was unlikely to meet its record 9.7 million vehicle production goal for the fiscal year ending in March 2023 due to a scarcity of chips. It did not say by how much the target would be lowered at that time.

The new target of 9.5 million global units would still exceed the previous year's output by 10%. However, that figure could further be lowered depending on the supply of electromagnetic steel sheets, said one person who spoke on condition of anonymity because the information was not public.

Toyota has been receiving the electromagnetic steel sheets from South Korean steel giant POSCO Holdings Inc's factory in Pohang, which suspended production after being flooded by a typhoon in September.

A Toyota spokesperson declined to comment.

The Japanese company has been under scrutiny over whether it would be able to meet its annual production target of a record 9.7 million vehicles after missing interim goals during the first four months of the fiscal year that began in April.

The announcement last week dashed optimism shared among Japanese automakers that the shortage of chips would ease, which would allow them to boost production in the second half of the year to make up for constrained output during the first.

Toyota had slashed its global production target for the previous year through March 2022 three times, reducing it from 9.3 million in May 2021 to 8.5 million in February. It ended up producing about 8.6 million vehicles that year.

Toyota is expected to report its second-quarter results and hold a news conference on Tuesday, in which executives may provide details about its global production outlook.

(Reporting by Maki Shiraki, Writing by Satoshi Sugiyama; Editing by Bernadette Baum)

By Maki Shiraki


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
POSCO HOLDINGS INC. -0.17% 298000 End-of-day quote.7.78%
TOYOTA INDUSTRIES CORPORATION 1.44% 7760 Delayed Quote.5.66%
TOYOTA MOTOR CORPORATION 0.18% 1901 Delayed Quote.4.69%
All news about POSCO HOLDINGS INC.
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01/27Transcript : POSCO Holdings Inc., Q4 2022 Earnings Call, Jan 27, 2023
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01/26Indian Morning Briefing: Asian Markets Broadly Higher
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01/24South Korean steelmakers Gain on Chinese Economy Reopening
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Analyst Recommendations on POSCO HOLDINGS INC.
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Financials
Sales 2022 82 714 B 65,6 B 65,6 B
Net income 2022 4 090 B 3,24 B 3,24 B
Net Debt 2022 3 981 B 3,16 B 3,16 B
P/E ratio 2022 5,82x
Yield 2022 4,69%
Capitalization 22 593 B 17 911 M 17 911 M
EV / Sales 2022 0,32x
EV / Sales 2023 0,33x
Nbr of Employees 168
Free-Float 84,6%
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Technical analysis trends POSCO HOLDINGS INC.
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 23
Last Close Price 298 000,00 KRW
Average target price 379 869,57 KRW
Spread / Average Target 27,5%
EPS Revisions
Managers and Directors
Jeong-Woo Choi Chairman & Co-Chief Executive Officer
In-Hwa Chang Co-President, Co-CEO & Director
Jung-Son Chon Co-Chief Executive Officer & Director
Seung-Kyu Lim Senior Managing Director & Head-Finance
Seong-Wook Lee Head-Legal & Compliance Support
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