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Toyota reports 28 percent drop in fiscal 4th quarter profit

http://biz.yahoo.com/ap/080508/earns_japan_toyota.html

Thursday May 8, 5:54 am ET
By Yuri Kageyama, AP Business Writer
Toyota reports 28 percent drop in fiscal fourth quarter profit


TOKYO (AP) -- Toyota's profit for the January-March quarter sank 28 percent from the previous year as a strengthening yen and lagging North American sales chipped away at the Japanese automaker's earnings.

Toyota, the maker of the Prius gas-electric hybrid and Camry sedan, forecast even tougher times ahead. For the current fiscal year through March 2009, it said Thursday that it expects sales to drop for the first time in nine years -- and net profit to plunge 27 percent.

The pessimistic outlook for this year underlines how even Toyota -- with its small cars reputed for good gas mileage -- hasn't emerged unscathed from the risks of a global slowdown, a U.S. credit crunch, volatile currency fluctuations and soaring material and energy costs.

"We are facing a severe business environment," Toyota President Katsuaki Watanabe said. "Toyota considers this headwind as a valuable opportunity to turn it into a more flexible and stronger company."
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

http://biz.yahoo.com/ap/080508/earns_japan_toyota.html

Thursday May 8, 5:54 am ET
By Yuri Kageyama, AP Business Writer
Toyota reports 28 percent drop in fiscal fourth quarter profit


TOKYO (AP) -- Toyota's profit for the January-March quarter sank 28 percent from the previous year as a strengthening yen and lagging North American sales chipped away at the Japanese automaker's earnings.

Toyota, the maker of the gas-guzzling Tundra full-size truck and Sequoia full-size SUV, forecast even tougher times ahead. For the current fiscal year through March 2009, it said Thursday that it expects sales to drop for the first time in nine years -- and net profit to plunge 27 percent.

The pessimistic outlook for this year underlines how even Toyota -- with its small cars reputed for good gas mileage -- hasn't emerged unscathed from the risks of a global slowdown, a U.S. credit crunch, volatile currency fluctuations and soaring material and energy costs.

"We are facing a severe business environment," Toyota President Katsuaki Watanabe said. "Toyota considers this headwind as a valuable opportunity to turn it into a more flexible and stronger company."
Fixed it for Yuri...
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

I heard the news earlier this morning.
I've been inconsolable ever since.
Can someone please pass me some tissues?
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

A drop in profit is infinitely better than a 3.3 Billiion $ loss, kids. Don't plan any celebrations just yet.
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

A drop in profit is infinitely better than a 3.3 Billiion $ loss, kids. Don't plan any celebrations just yet.
Thank you for the more realistic assessment, megeebee.

You can hate Toyota all you want, but sometimes their perspective is interesting (and refreshing):

"We are facing a severe business environment," Toyota President Katsuaki Watanabe said. "Toyota considers this headwind as a valuable opportunity to turn it into a more flexible and stronger company."
Thankfully, no bitching about exchange rates or other outside forces causing the drop in profits, just a "let's work harder" attitude.
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

Has no one here ever heard of Schadenfreude?
I'm fairly certain the regular posters on this board is acutely aware of how fragile GM's financial position is.
Delphi, GMAC and now American Axle.
And pretty much everything that can be sold has been sold.

So if I or anyone else feigns a small twinge of remorse at Toyota's plummeting sales,
Well,
Don't take it to heart.
It's not meant for studious consumption.

Any tissues out there?
Anyone?
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

Thankfully, no bitching about exchange rates or other outside forces causing the drop in profits, just a "let's work harder" attitude.
You don't need to complain about anything when you have a government issued safety net protecting you from overzealous investment into risky technologies that if successful will make you stinking rich.

If the US supported Detroit HALF as much as Japan supports their automakers things would sound a lot different out of Detroit.



Never pay again for live sex! | Hot girls doing naughty stuff for free! | Chat for free!
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

Has no one here ever heard of Schadenfreude?
I'm fairly certain the regular posters on this board is acutely aware of how fragile GM's financial position is.
Delphi, GMAC and now American Axle.
And pretty much everything that can be sold has been sold.

So if I or anyone else feigns a small twinge of remorse at Toyota's plummeting sales,
Well,
Don't take it to heart.
It's not meant for studious consumption.

Any tissues out there?
Anyone?
A truck full of tissues has been dispatched to your house.



Never pay again for live sex! | Hot girls doing naughty stuff for free! | Chat for free!
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

A truck full of tissues has been dispatched to your house.
Thank you DuSpinnst.
May you be blessed with a 4LT Corvette.
Only the very best.

And may other less magnanimous posters be stuck with Kias.
Forever. For all eternity. Kias.

:):cool:
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

Thank you DuSpinnst.
May you be blessed with a 4LT Corvette.
Only the very best.

And may other less magnanimous posters be stuck with Kias.
Forever. For all eternity. Kias.

:):cool:
I am not an intelligent, sophisticated, conformist, Car and Driver, import loving jet setting playboy, and as such am not able to read well enough to look up words larger than three letters in various dictionaries.

What does "magnanimous" mean, exactly? Is that the new Mitsubishi? And I thought it had Kia-less entry?

I am inconsolable on this news, for the record.
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

....
And I thought it had Kia-less entry?
:lmao::clap: +1111...

May all vehicles someday be be Kia-less.

I am inconsolable on this news, for the record.
It's really tugging at the heartstrings isn't it?
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

A drop in profit is infinitely better than a 3.3 Billiion $ loss, kids. Don't plan any celebrations just yet.
Well, I'm optimistic, at some point soon substitution of Yarises and Scions for Lexus and large SUV sales is gonna' pay off - for sure.:eek:
 

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Ohhhhhh, what a feeling!
You asked for it, you got it.......Toyota....
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

Thank you for the more realistic assessment, megeebee.

You can hate Toyota all you want, but sometimes their perspective is interesting (and refreshing):



Thankfully, no bitching about exchange rates or other outside forces causing the drop in profits, just a "let's work harder" attitude.
Oh get serious - you think you just heard a real or legitimate full explanation by Toyota ???

Whats most conspicuous here is whats missing - not what was said - thats just what the street is more comfortable with.

As far as Toyotas 'view' and interesting and 'refreshing' hmmmm .... well maybe - kinda' like an arms-at-your-side faceplant on Bright Angel Trail RIGHT after the Burros have gone by........
 

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So let's see...instead of repeating the $16 billion profit they had last year, this year they'll have to make do with only an $11.6 billion profit. Sucks for them...I think.
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

Oh get serious - you think you just heard a real or legitimate full explanation by Toyota ???

Whats most conspicuous here is whats missing - not what was said - thats just what the street is more comfortable with.

As far as Toyotas 'view' and interesting and 'refreshing' hmmmm .... well maybe - kinda' like an arms-at-your-side faceplant on Bright Angel Trail RIGHT after the Burros have gone by........
What are you trying to say?

Of course Toyota is not giving a full explanation of why it's experiencing a drop in profit--that's exactly why it's refreshing. We don't have to hear unfounded statements like "the exchange rate is unfair," regardless of whether it is true or not.
 

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Re: Toyota reports 28 percent drop in fiscal 4th quarter profit

You don't need to complain about anything when you have a government issued safety net protecting you from overzealous investment into risky technologies that if successful will make you stinking rich.

If the US supported Detroit HALF as much as Japan supports their automakers things would sound a lot different out of Detroit.
The Detroit automakers made mistakes when they were in good financial shape. Now, everyone raises hell because the US gov't won't bail them out. It took a lot more than a lack of corporate welfare to place GM where they are, and it's going to take a lot more than that to pull them out.
 
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