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Article: 7 OF 9 MAJOR TOYOTA UNITS REPORT LOWER INTERIM NET PROFITS.(Financial report)
- Article from:
- AsiaPulse News
- Article date:
- October 31, 2008
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TOKYO, Oct 31 Asia Pulse - Of the nine major Toyota Motor Corp. (TSE:7203) group companies that released their interim earnings Thursday, only Toyota Tsusho Corp. (TSE:8015) and Toyota Auto Body Co. (TSE:7221) posted increases in consolidated net profits in the April-September period.
The group's hardships stemmed from the parent's production cuts in North America and the yen's appreciation. With global auto demand cooling sharply, six of the nine downgraded their full-year earnings projections.
Denso Corp.'s (TSE:6902) net profit for the first half plunged 50 per cent to 58.9 billion yen (US$598.07 million), marking the first decline since the major ...