TMC Quarterly Profit Down, But Company Lifts Year-End Forecast

Toyota Motor Corporation raised its fiscal year-end net profit forecast to $5.7 billion despite reporting a drop in third quarter net profits today. For the October-December third quarter, Toyota reported a profit of $1.1 billion, down 39 percent from last year’s third quarter.

“The fact that we were able to raise our forecast indicates that our cost-cutting efforts have exceeded our own expectations,” said Toyota Senior Managing Director Takahiko Ijichi.

During the first nine months of the fiscal year ending March 31, Toyota’s net profit nearly quadrupled to $4.4 billion due to cost reductions and sales in emerging markets.

To read the news release, please click on:
http://pressroom.toyota.com/pr/tms/tmc-announces-financial-results-191967.aspx

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