Japan's Top Carmaker Reports Record Profits
Voice of America
November 9, 2001
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Excerpt from Voice of America's Japan Business Wrap
Japan's top carmaker reports a record profit while financial woes grip other Japanese market leaders.
Japanese carmaker Toyota put in a strong performance for the first half of the year, despite the global economic slump. Toyota's net profit jumped 82 percent to almost $2.5 billion dollars, its best ever interim results.
The company says that the weak yen helped boost overseas sales, and cost-cutting measures helped the bottom line.
Shinji Katayama is an auto analyst at Shinko Securities in Tokyo. "The expectations are that Toyota's growth for the next year will remain flat because domestic and overseas economic conditions are tough," Katayama said.
Nonetheless, Toyota predicts that its full year earnings will be strong.
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