“Toyota profits despite $2bn recall”

“Toyota profits despite $2bn recall”

February 6th, 2010 | Posted in Finance | Author: Editor

“Toyota Motor said it expected accelerator pedal problems that have led to the recall of millions of cars around the world to cost US$2 billion. The recall costs and lost sales are expected to reduce profits by up to about 180 billion yen (US$2 billion) in the current financial year to March, Toyota senior managing director Takahiko Ijichi told reporters. Despite the blow, Toyota now expects a net profit of 80 billion yen for the year to March 2010, against an earlier forecast of a loss. It announced a net profit of 153.2 billion yen (US$1.7 billion) for the latest quarter”

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