Toyota Warns of First Profit Drop in Nine Years | Companies & Executives…

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Toyota Endo

Toyota Warns of First Drop in Nine Years

Motor Corp. warned May 8 it the first drop in annual in nine years because of a U.S. economy, a stronger yen and raw material costs. The gloomy came as Japan’s largest reported another record for the financial year to March on the of brisk demand in fast-growing economies. Toyota posted a rise in annual net profit to trillion yen (US$16.4 billion). It operating profit increased by to 2.27 trillion yen as revenue by 9.8% to 26.29 trillion yen both all-time highs and in line with the company’s own

But a credit crunch, the surging of steel and other raw materials, and a dollar are now weighing on their prospects. The business environment is difficult, Toyota president Watanabe said. The higher yen and raw prices will be major for us to tackle, he said. We will cut and review our ways of doing

Toyota forecast a 27.2% in net profit to 1.25 trillion yen in the financial year to next It sees a 29.5% drop in operating earnings to 1.60 yen this year and a 4.9% in revenue to 25.0 trillion

It’s going to be the first decline in nine years really suggests that for Toyota the current situation is very tough, said Suisse auto analyst Endo.The U.S. market is down and even Toyota to be facing a very tough selling their light Raw material costs — steel, precious metals and — are going up and that’s going to be very significant year, said Endo.

Toyota Endo

Toyota said it had sold a 8.91 million vehicles year, up 4.6% from the year, despite a drop of in Japan where a shrinking is weighing on the market. After the giant U.S. car market by Toyota and its rivals are now targeting economies to maintain their While the economy of the U.S. and industrialized nations is slowing we have seen a rapid in markets in resource-rich nations and economies, said Watanabe.

Sales in Asia rose to 956,000 vehicles on strong in China while operating in the region more than growth in Asia has become a key for our company, said Toyota managing director Takeshi

Sales in North America just 0.5% to 2.96 vehicles, led by the new Camry and Prius while other markets the Middle East, South and Australia saw an increase of 17.9%.

Agence France-Presse, 2008

Toyota Endo
Toyota Endo
Toyota Endo
Toyota Endo


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