Toyota profit declines<\/p>\n
TOKYO (Reuters): Toyota Motor Corp's profits slid in the first
\nhalf of the business year and are forecast to fall further in the
\nfull year, as strong U.S. sales are no longer enough to offset a
\ntenacious slump at home and in Southeast Asia.<\/p>\n
Japan's biggest automaker said it earned 192.65 billion yen
\n(US$1.61 billion) in consolidated net profits in the six months
\nto September 30, down 20 percent from a year earlier.<\/p>\n
While a windfall from the weak yen helped it eke out a 1.2
\npercent gain in consolidated operating profits, this was more
\nthan wiped out by a 63 billion yen appraisal loss on securities
\nholdings as Japan's stock market slumped.<\/p>\n
And with the yen expected to be stronger in the second half of
\nthe business year, Toyota predicted that, for the full year to
\nnext March 31, parent operating profits would fall 12.5 percent
\nand parent net profits 26.0 percent from year-ago levels.<\/p>\n
Toyota issued consolidated results on a half-year basis for
\nthe first time, in response, it said, to an increased
\nglobalization of operations and a trend towards greater
\ndisclosure of corporate information.<\/p>",
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