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Toyota Earnings Up Over 500% on Weaker Yen

Japanese giant raises forecast – but also faces some problems.

by on Feb.04, 2014

The Prius has helped drive Toyota sales worldwide.

The world’s largest automaker has now posted the industry’s largest profit for the final quarter of 2013, Toyota Motor Co. earnings increasing by more than 500%, much of that momentum driven by the weak yen.

Toyota earned 525.4 billion yen, or $5.2 billion, for the October-December period, the third quarter of the Japanese fiscal year, up from 99.9 billion yen a year earlier.  The maker’s quarterly sales, meanwhile, surged by 24%, to 6.6 trillion yen, or $64.2 billion.

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Toyota’s earnings handily exceeded the 437 billion yen, or $4.3 billion, consensus forecast of industry analysts polled by tracking firm FactSet.  That’s a sharp shift from recent days during which a number of key corporations have fallen short of industry estimates, driving a sharp sell-off of stocks in Asia and on other markets around the world.


Toyota’s Profits Tumble By 99%

Hit hard by Japan’s March disaster, as well as weak U.S. dollar.

by on Aug.02, 2011

CEO Akio Toyoda says Toyota faces serious headwinds even after recovering from Japan's March disaster.

Toyota Motor Co. pointed its corporate finger at the March 11 Japanese earthquake and tsunami for the 99% decline in its earnings for the first-quarter of its latest fiscal year – but longer-term concerns about the strong yen pose problems that could extend well into the future, the automaker warned.

The maker raised a previously bleak earnings forecast for the full 2012 fiscal year, but the increase still fell below the general consensus of industry analysts who have been observing the maker’s ongoing recovery from the March disaster, which cost Toyota 599,000 units of last production for the April – June quarter.

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“In Japan and North America where the effects of the earthquake were particularly serious, vehicle sales declined substantially,” noted TMC Senior Managing Officer Takahiko Ijichi.

For the quarter ending June 30, Toyota’s net income plunged to just 1.1 billion yen, or $14 million, down from 190 billion yen, or $2.5 billion, a year earlier.  Sales and revenues fell by 30%, to 3.44 billion yen, or $44.5 million.