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Japan : Toyota to post US$4.3 bln profit
Publish Date : 02-May-2012
Japanese car giant Toyota Motor will post a full-year operating profit of US$4.3 billion, nearly 30 per cent above forecast, when it announces its earning results next week, a report said on Monday.
The Nikkei business daily said the firm will reveal operating profit of 350 billion yen (US$4.3 billion) in the year to March 31, surpassing the 270 billion yen estimate it gave in February, thanks to strong sales and a weakening yen in recent months.
The firm would also target operating profit to surge to around 800-900 billion yen for the current fiscal year, which would mark a more than doubling on the year, the daily said.
Despite the huge jump, the fiscal 2011 figure would still mark a drop of 25 per cent year-on-year as Toyota cut production in the wake of a massive earthquake and tsunami disaster at home and heavy flooding in Thailand.
