Toyota Raises Profit Forecast On Disaster Recovery


Salon Staff
February 7, 2012 11:45AM (UTC)

TOKYO (AP) — Toyota is reporting that quarterly profit slid 13.5 percent but is confident enough in a recovery to raise its forecast for annual profit.

Toyota Motor Corp. reported Tuesday an 80.9 billion yen ($1.05 billion) profit for the October-December third quarter, down from 93.6 billion yen a year earlier.

Advertisement:

Car production was hurt by the tsunami disaster in Japan and flooding in Thailand last year.

But underlining a recovery is on track, Toyota raised its fiscal year profit forecast to 200 billion yen ($2.6 billion) from an earlier 180 billion yen ($2.3 billion).


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •