CCTV.com - CNTV English - CCTV News

Toyota ekes out 1.1 bln yen in Q2, raises forecast

08-03-2011 10:13 BJT

Watch Video

Play Video

Toyota's quarterly earnings report released Tuesday shows it is recovering from this year's earlier earthquake and tsunami. The carmaker has reported profits and raised its annual earnings forecast.

The company eked out a 1.1 billion yen, or 14 million US dollars, in second quarter profits. Toyota says auto sales held up in Asian nations such as Indonesia and now expects to sell 7.6 million vehicles worldwide, up from an earlier forecast of 7.24 million.

Visitor is reflected on a Toyota vehicle at the company's showroom in Tokyo.

The company says though the unfavorable exchange rate - that's the climbing yen we told you about - erased 50 billion yen of profit during the quarter.

Toyota says it will work on cost cuts and sales increases that won't be affected by a higher yen.

Takahiko Ijichi, SR. managing officer of Toyota said, "Japan and Toyota are not what they used to be. Other makers, such as Hyundai from our neighboring country, are emerging and it's not easy to hike the prices anymore. In this sense, I think we are put in a difficult situation and we need to deal with the yen-dollar currency carefully. It shouldn't be all or nothing. While maintaining the nation's manufacturing products, we need to deal with the currency issues steadily."

A visitor looks at Toyota Motor's vehicles at the company's showroom in Tokyo February 8, 2011. PHOTO: REUTERS

Editor:Li Wanran |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program