Toyota to Report $1 Billion Plus Profit
By Michelle Krebs July 26, 2010Toyota is expected to report a group operating profit of about 100 billion yen ($1.1 billion) for the 
three-month period ended June 30 thanks to strong sales and despite recall woes, Japanese business daily Nikkei reported Sunday.
Last year at this time, Toyota reported a 195 billion yen loss.
Toyota, including its Hino and Daihatsu affiliates, sold nearly 1.9 million vehicles, a 30 percent hike from a year ago, the newspaper reported.
On the plus side, Toyota had strong sales in emerging markets and the Middle East and of the Prius hybrid.
On the down side, Toyota continued to struggle with the after effects of recalling 10 million vehicles globally, strikes at supplier plants in China that forced Toyota to suspend production and uncertainty in Europe and the United States.
The report said Toyota, despite the strong quarter, is sticking with its targeted operating profit of 280 billion yen for the fiscal year that ends March 31, 2011, a 90 percent improvement from 2010.
Photo by Toyota
Toyota saw strong sales during the recent quarter of its Prius hybrid.
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