TOKYO — Japanese automakers — even Toyota — are bracing for a tough year. With few exceptions, the country's manufacturers expect profits to decline or stall out as soaring costs eat up earnings.
And spiraling R&D budgets — virtually across the board — are only pushing costs higher.
Japan's automakers are keeping the pedal to the metal on product development, sometimes to record levels, to meet mounting demand for a staggering array of new technologies.