business

Toyota's profit soars 93% for April-June quarter

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Good stuff, now put some of that profit money into some practical energy technologies like solar, wind, thermal etc. technologies that the country of Japan so desperately needs!

1 ( +3 / -2 )

All we had been hearing until recently was their whining about the lost profits because of the high yen. And after just 6 months of a sliding yen , losing 20% of its value, they post a record profit? Me thinks they can't have been suffering under the strong yen as much as they had us believe.

-8 ( +3 / -11 )

Just wait until Abe's labor law reforms come into play then we'll see many of these Japanese companies posting record profits while unemployment soars along with public debt and small company bankruptcies. As long as the fat cats are getting fatter, right? After all, Japan's economic reputation is only built on a superficial reality.

-9 ( +0 / -9 )

rowiko68Aug. 02, 2013 - 05:58PM JST

Me thinks they can't have been suffering under the strong yen as much as they had us believe.

It wasn't rocket science. Quite a few of us were saying that on here a year ago.

However it doesn't resolve the long term issue of the Japanese economy can't and won't be allowed to live at the expense of other nation's jobs, through the neo- mercantile export model of currency manipulation and domestic market protectionism

Short term good news for the Japanese political elite who can't think out of the short term box. Without radical structural change in Japanese society and the Japanese economy, within the next 24 months, we will be in a lot more doggy pooh, than we were before November 2012.

My prediction; the reforms will never happen.

-8 ( +2 / -10 )

Japanese companies start making good profits and people still complaining, this is a good sign and it is good news.

If Toyota reinvests this profit back here in developing new technologies & research and development that has to be good for the economy too.

Guess some will always moan and look for the negatives though.

10 ( +10 / -0 )

StormRAug. 02, 2013 - 07:11PM JST

Japanese companies start making good profits and people still complaining, this is a good sign and it is good news.

Toyota's actual volume of sales in the US has not increased, tomorrow's statistics tomorrow, will show they fell. What Toyota did, as a one off, was not repatriate their profits, last year from the US dollar, back into Yen.

They gambled on the LDP winning the election and surprise surprise, the party of Japan Inc won.

-7 ( +1 / -8 )

And so?

Profit is profit - I would rather they show/make profit then losses but I guess Japan's detractors would rather see the losses, perhpas they hate to think Japan was ahead or something good could happen, it's plain to see.

8 ( +8 / -0 )

Toyota's actual volume of sales in the US has not increased

There's still some 5+ billion more people living in this world outside of USA. It doesn't start and end in US...

7 ( +8 / -1 )

Great news ,for a great car maker!!!

7 ( +7 / -0 )

It's not good for Japan's economy nor does is bear any reflection on the over all economic recovery in Japan. It is only good for Toyota. Read the rest of the article. All the other car makers are still struggling.

-4 ( +1 / -5 )

I thought this very positive article was impervious to negative comments but I underestimated the negative polarity of those doomsday posters. Great businesses like Toyota find and make use of opportunities even in the midst of adversity. Those who like to find everything wrong with the Japanese corporate model should try to understand what makes Toyota work.

4 ( +4 / -0 )

Good for them, but I hope the increased profits will come from increased innovation/ breakthroughs in production rather than from a cheaper yen.

2 ( +2 / -0 )

ShankunAug. 02, 2013 - 08:02PM JST

There's still some 5+ billion more people living in this world outside of USA. It doesn't start and end in US...

Duhhhhh.. that's where the only growth was seen in Toyota's sale.

-5 ( +1 / -6 )

Dog you contradicted yourself. You said US sales didn't grow in your original statement yet your last comment states that the US is the only place where growth occurred...credibility?

5 ( +5 / -0 )

Like all other export oriented Japanese companies much of the reported highly inflated profits are the result of a devalued yen. So how much more did Toyota make taking away translation profits?????????????

-2 ( +0 / -2 )

Toyota USA and other Japanese brand car makers are doing very fine... I doubt very much toyota will go into its unexperienced field with their money. It even did not go to tire makers. Japan Inc. automakers use Ishibashi and Yokohama.

3 ( +3 / -0 )

Japanese Brand auto in USA are made in USA., not imported from Japan. Why? They created theirdivisons in USA toD left-side handle cars for USA people driving on USA streets and highway. Devaluated Yen has nothing to do with their profits/American people do not use Yen to buy made-in-USA Japanese brand products in USA..

1 ( +1 / -0 )

So now wages of Toyota workers will go up commensurately? Not! Trickle down economics still does not work.

-2 ( +0 / -2 )

Toyota will upgrade its automated factories. Raising wages? Oh, its variety of robots do not earn wages.

Onniyanna: Recall UAW tried to unionize Japan Inc automakers requesting all assemblers write Social Security number, Date of Birth, etc to robot assemblers and failed years ago? KY plants etc have salaried workers. No longer unskilled laborers. Technicians. engineers/ They don't operate like UAW dominated Mich. factories/

0 ( +0 / -0 )

Toyota should focus on safety of the product over profit. Toyota recalled more than 14 million vehicles globally for sticky gas pedals, faulty floor mats, problematic brakes and many other defects, spanning several years from 2009.

-1 ( +1 / -2 )

Is Toyota the only company benefiting from yen devaluation? Why aren't other Japanese companies doing as well?

1 ( +1 / -0 )

Wonderful news, well earned, congratulatoins.

2 ( +3 / -1 )

Toyota benefitting from USA popularity and sales by its USA factories. Like GM and Ford, it has nothing to do with Yen. Others are doing ok in USA.. Japanese automakers have attractive ad while GM ahd Ford have boring number related ads. Somehow, USA consumers love Japanese brand cars. Media states that Gas consumption og Toyota cars are lowest. GM and Ford, too ecpensive to drive.

2 ( +3 / -1 )

Why would Toyota settled the lawsuit for $1.1 Billion? Because Toyota could afforded it and simply cut its legal bills by settling the lawsuit? Or were there significant damaging evidence that Toyota did not want to disclose? By settling the lawsuit, the U.S. Court never gets to hear the evidence. Only by going to trial, which will now never occur, does a court opinion get stated. By settling the lawsuit, Toyota never lied, never was negligent, and never was malfeasant in dealing with its customers. By settling the lawsuit, Toyota will never be sued again for this problem.

-1 ( +2 / -3 )

randommanAug. 02, 2013 - 10:25PM JST

Dog you contradicted yourself. You said US sales didn't grow in your original statement yet your last comment states that the US is the only place where growth occurred...credibility?

Not at all. This was a one off Yen rush, because of a number of factors, that Toyota and the rest of the Japanese auto industry won't experience again, unless the Yen loses another 30% of its value.

In the three months to June 30, net profit was up 94% from a year earlier even though total vehicle sales were down 1.6%. How did Toyota do it? The company says the weaker yen accounts for 84% of a ¥310.2 billion ($3.1 billion) increase in operating profit.

About a quarter of Toyota's sales in the June quarter were in Japan. That's a concern because domestic demand has been falling since a subsidy program for car buyers ended last September. Total vehicle sales in Japan for the first seven months of 2013 were down 12% from a year earlier, according to the Japan Auto Dealers Association.

http://online.wsj.com/article/SB10001424127887324635904578643541855208624.html

-4 ( +1 / -5 )

US Auto sales numbers are up, you always seem to get it asswackbards somehow dog.

1 ( +1 / -0 )

Everyone wants a Prius these days. Good luck to them - wish I had shares!

2 ( +2 / -0 )

I'm definitely going to start investing in Toyota. The company is unstoppable.

2 ( +2 / -0 )

Dog, the other reason for the increase in profit without growth in sales is the average sticker price increased by 1.3 percent. That is significant amount when you consider the total volume of sales.

-1 ( +0 / -1 )

How could a1.3% increase equal a 93% profit increase? They should call this site "Japan-Bashing Daily".

2 ( +2 / -0 )

With all this largesse, maybe Toyota can go back to hiring some permanent staff and reducing the number of benefit-less short-term employees that they discard when their contracts are over, or when they claim that times are tough.

1 ( +1 / -0 )

jeff198527Aug. 04, 2013 - 08:28AM JST How could a1.3% increase equal a 93% profit increase? They should call this site "Japan-Bashing Daily".

Just do the math. Toyota sold 2.5 million cars in a quarter, and they increase the price of around $300 per car, and this equals approximately $750 million in profit in ONE QUARTER.

1 ( +1 / -0 )

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