For Toyota, by most conventional
autoindustry standards, last year
was an annus horribilis, and its
grey-faced senior executives must be
heaving a huge sigh of relief that the event
filled fiscal year 2012 has finally come to a
After posting a 24 per cent drop in operating profits to Yen355.6bn during its last fiscal year, and largely unchanged sales, Toyota offered an upbeat outlook for the current year with a near threefold jump in operating profits to Yen1,000bn, driven by an 18 per cent rise in vehicle sales to 8.7m units from the 7.35 million sold during the fiscal year ending March 31 this year.
Last year’s triple whammy, chiefly the domestic March earthquake and tsunami, followed by devastating floods in Thailand, plus the pain inflicted by the yen’s unprecedented strength, have sunk their teeth into Toyota’s commercial fortunes.
So it came as no surprise to market observers that all that has made its mark on the carmakers’ balance sheet
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