Bank Of Baku

Toyota’s profit drops 77% on quake impact

Toyota’s profit drops 77% on quake impact
# 11 May 2011 12:59 (UTC +04:00)
Baku - APA-Economics. Toyota Motor Corp. (7203), the world’s largest carmaker, said fourth-quarter profit slumped 77 percent to the lowest in 1 1/2 years after Japan’s record earthquake halted production and slashed domestic sales.

Net income fell to 25.4 billion yen ($314 million) for the three months ended March 31 from 112.2 billion yen a year earlier, the Toyota City, Japan-based company said in a statement today. Profit missed the 104 billion yen average of four analyst estimates compiled by Bloomberg in the past four weeks. Sales dropped 12 percent to 4.64 trillion yen.
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