Toyota profits tumble in FY2011, pledges recovery
- Published: 9 May 2012 at 14.48
- Online news: World
Japan's Toyota Motor said Wednesday net profit for the year to March fell 30.5 percent to 283.56 billion yen ($3.56 billion), hit by last year's quake-tsunami disaster and record flooding in Thailand.
Kazuo Ohara (R), Managing Officer of Japan's Toyota Motor, introduces the new Lexus RX 450h hybrid SUV in Tokyo in April. Toyota said its net profit for the year to March 2013 was expected to more than double to $9.5 billion on continued demand in emerging markets.
But the country's biggest automaker, also stung by the strong yen, pledged a sharp rebound in the current fiscal year, expecting net profit to more than double to 760 billion yen on surging demand in emerging markets.
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