Production woes erode Toyota's net
Source: Agencies |
February 8, 2012, Wednesday
|
Print Edition
Print Edition
TOYOTA'S quarterly profit slid 13.5 percent on production setbacks caused by last year's tsunami disaster and the flooding in Thailand, but Japan's top automaker raised its annual earnings forecast, saying a recovery is on track.
Toyota Motor Corp reported yesterday an 80.9 billion yen (US$1.05 billion) profit for the October-December third quarter, down from 93.6 billion yen a year earlier.
Showing confidence in its ability to bounce back, the manufacturer of the Prius gas-electric hybrid, Lexus luxury models and the Camry sedan raised its annual profit forecast to 200 billion yen from 180 billion yen.
Still, the higher forecast is barely half of what Toyota raked in the previous fiscal year at 408 billion yen.
Last year was tough for Japanese automakers as the earthquake and tsunami in northeastern Japan devastated key suppliers. The flooding in Thailand in late 2011 hit them with new supply problems just as they were starting to recover from the March disaster.
Toyota Senior Managing Officer Takahiko Ijichi pointed to the strong yen as also behind the declining profits.
The dollar dropped to about 77 yen for the latest quarter from 83 yen the same period in 2010.
Toyota Motor Corp reported yesterday an 80.9 billion yen (US$1.05 billion) profit for the October-December third quarter, down from 93.6 billion yen a year earlier.
Showing confidence in its ability to bounce back, the manufacturer of the Prius gas-electric hybrid, Lexus luxury models and the Camry sedan raised its annual profit forecast to 200 billion yen from 180 billion yen.
Still, the higher forecast is barely half of what Toyota raked in the previous fiscal year at 408 billion yen.
Last year was tough for Japanese automakers as the earthquake and tsunami in northeastern Japan devastated key suppliers. The flooding in Thailand in late 2011 hit them with new supply problems just as they were starting to recover from the March disaster.
Toyota Senior Managing Officer Takahiko Ijichi pointed to the strong yen as also behind the declining profits.
The dollar dropped to about 77 yen for the latest quarter from 83 yen the same period in 2010.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
