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Toyota Motor (TM) Stock Falls on Profit Warning

NEW YORK (TheStreet) -- Shares of Toyota Motor (TM - Get Report) are down by 3.17% to $101.50 at the start of trading on Wednesday morning, after the automaker warned that a stronger yen will drive down profit for the current fiscal year.

The company, which is the world's biggest car maker by vehicle, is expecting sales to drop by more than a third for the current fiscal year ending March 2017, the Wall Street Journal reports.

The company reported a 6.4% rise in net profit to $21.3 billion for the most recent fiscal year, helped by a weak yen and strong North America sales.

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