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Toyota Earnings Soar on Global Sales Surge

Automaker lifts full-year forecast.

by Paul A. Eisenstein on Nov.06, 2018

Strong demand for Lexus, especially in the Chinese market, helped Toyota deliver strong earnings.

Toyota Motor Corp. reported a 28% increase in its net profit for the July-September quarter, earnings buoyed by strong demand in key global markets, including the Americas, Asia and Europe.

The Japanese giant also advised that it expects to see earnings push past earlier forecasts for the full year, in part driven by unexpectedly strong demand in China. Sales of the Lexus brand, have been booming there, despite a slowdown in the overall Chinese market.

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Sales gains were only one of the factors that propped up Toyota’s bottom line, said Senior Managing Masayoshi Shirayanagi. Referring to aggressive cost-cutting efforts, he said, “We are steadily making progress toward achieving our challenge-level target.”

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Profits Slide – But Toyota Claims Recovery on Track

Make boosts full-year sales, earnings forecast.

by Paul A. Eisenstein on Feb.07, 2012

Toyota hopes to boost demand for products like the Corolla during the fourth quarter.

Toyota profits slid another 13.5% for the latest quarter reflecting the maker’s ongoing production problems and the impact of lopsided exchange rates – but the Japanese giant also indicated that it has begun a long-awaited recovery that should see profits begun turning upward during the final three months of the Japanese fiscal year.

Toyota profits slipped to 80.9 billion, or $1.05 billion, for the October – December quarter, down from $93.6 billion yen the year before.  Sales for the quarter were up 4.1%, to 4.865 trillion yen, or $63.4 billion, hinting at the maker’s slow return to normal production levels after the hammering it took as a result of the March 11 Japanese earthquake and tsunami and subsequent flooding in Thailand.

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Toyota Managing Director Takashi Ijichi indicated, during a conference call, that sales continue returning back to normal during the current quarter.  Meanwhile, “company-wide profit improving efforts” will help trim about 60 billion yen in costs during the fourth quarter.  As a result, Toyota raised its profit forecast for the full year to 200 billion yen, or $2.6 billion, up from 180 billion yen, or $2.3 billion, in an earlier forecast.

“We feel confident the foundation of our business is now stronger,” he said.

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