Arab Today, arab today toyota doubles 9month profit on track for record year
Last Updated : GMT 18:42:31
Arab Today, arab today
Arab Today, arab today

Toyota doubles 9-month profit, on track for record year

Arab Today, arab today

Arab Today, arab today Toyota doubles 9-month profit, on track for record year

Tokyo - AFP

Toyota said Tuesday it was on track for a record annual profit as its nine-month net earnings more than doubled to $15 billion on a sharp drop in the yen and surging overseas sales. The buoyant results underscore a recovery not only for the world's biggest automaker but also for rival Japanese auto giants including Nissan and Honda. The trio have been big winners over the past year as a sharp drop in the yen inflated exporters' repatriated profits, further boosted by improved overseas demand in key markets including the United States and China. China sales fell off a cliff in late 2012 and into last year as a Tokyo-Beijing diplomatic row sparked a consumer boycott of Japanese brands in China, the world's biggest vehicle market. Relations remain tense, but Japanese manufacturers have said their dented sales are coming back to pre-spat levels. On Tuesday, Toyota said it earned 1.52 trillion yen ($15 billion) between April and December on sales of 19.12 trillion yen -- propelled by a five-fold jump in third-quarter earnings. It also boosted a fiscal year to March profit forecast to a record 1.90 trillion yen. The automaker has ramped up its bid to tap emerging markets while key US demand has also been on the upswing, helping the firm book ever-increasing profits. "In addition to the positive impact of the weaker yen, our operating income increased due to marketing efforts such as increased vehicle sales and cost reduction activities," Toyota managing officer Takuo Sasaki said. Last month, Toyota kept the title of world's biggest automaker with calendar-year 2013 sales of 9.98 million vehicles, outpacing Germany's Volkswagen and General Motors, and said it expects this year to become the first automaker to break the 10 million vehicle sales barrier. Toyota broke GM's decades-long reign as world's top automaker in 2008 but lost the crown three years later as Japan's quake-tsunami disaster hammered production and disrupted the supply chains of Japanese automakers. Last week, Honda said its nine-month net profit surged almost 40 percent to 403.60 billion yen, thanks to brisk global sales and a weaker yen. Nissan reports its financial results next week. Despite the buoyant figures so far, an April sales tax hike in Japan and possible slowdown in key US and Asian markets could put the brakes on sales, said Takaki Nakanishi, analyst and CEO at Nakanishi Research Institute in Tokyo. "The Japanese auto industry has been on the upswing thanks to the weak yen and strong demand in the US and Asia, including in Japan," he told AFP. "But there are some negatives on the horizon. The sales tax hike in Japan will affect auto sales for sure, although I think the impact is likely to be limited. Also, the recent strong demand in Asia and American is likely to lose its momentum." He added that gains from the weak yen will taper off, while political unrest in Thailand, a major production base for Japanese automakers, could also dig into results. Toyota shares dropped 5.67 percent to 5,500 yen as the Tokyo market suffered a sell-off which saw the benchmark Nikkei drop 4.18 percent. Its results were published after markets closed.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today toyota doubles 9month profit on track for record year Arab Today, arab today toyota doubles 9month profit on track for record year

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Egyptian tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Egyptian tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 12:25 2017 Thursday ,23 February

Bharti Airtel buys Telenor's India operations

GMT 10:47 2017 Thursday ,23 February

Saudi Aramco may offer discounted shares to citizens

GMT 06:25 2017 Thursday ,23 February

Bupa Arabia sponsors SMEA forum

GMT 06:11 2017 Thursday ,23 February

Football: Turkish company wins Qatar World Cup contract

GMT 05:46 2017 Thursday ,23 February

SABIC net profits fall in 2016

GMT 21:01 2017 Wednesday ,22 February

Saudi Aramco mulls offering citizens discounted shares
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday