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Nov 5, 2012

Despite China hit, Toyota trebles second-quarter profit, raises full-year forecast

TOKYO (Reuters) – Toyota Motor Corp raised its full-year net profit forecast to $9.7 billion even after its sales in China, the world’s biggest autos market, were battered by a popular backlash against Japan over a territorial dispute.

Sales at Toyota and its two Chinese joint ventures almost halved in September and October. Honda Motor’s China car sales more than halved last month, while Nissan Motor’s fell 41 percent.

Nov 5, 2012

Despite China hit, Toyota trebles Q2 profit, raises FY forecast

TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) raised its full-year net profit forecast to $9.7 billion even after its sales in China, the world’s biggest autos market, were battered by a popular backlash against Japan over a territorial dispute.

Sales at Toyota and its two Chinese joint ventures almost halved in September and October. Honda Motor’s (7267.T: Quote, Profile, Research, Stock Buzz) China car sales more than halved last month, while Nissan Motor’s (7201.T: Quote, Profile, Research, Stock Buzz) fell 41 percent.

Nov 5, 2012

Toyota set to raise profit outlook but still much work to do

TOKYO, Nov 5 (Reuters) – Toyota Motor Corp is set
to tweak its full-year profit forecasts higher, local media
reported, in revisions that will come with a likely trebling of
quarterly profit to almost $3 billion. Even so, it’s too early
to say it has emerged from years of crisis.

Toyota will likely lift its annual operating profit forecast
by 5 percent to 1.05 trillion yen ($13 billion) and nudge up its
net profit outlook on strong sales in North America and
Southeast Asia as well as cost cuts, public broadcaster NHK
said.

Nov 4, 2012

Toyota returns; wants time to show it’s changed

TOKYO (Reuters) – For most companies, trebling quarterly profit to almost $3 billion and outselling all global rivals would be welcome news. But for Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz), Japan’s biggest car maker, it’s still too early to say it has emerged from years of crisis.

Toyota is likely to say later on Monday that it earned a net profit of 228.8 billion yen ($2.9 billion) in July-September, close to three times its year-ago profit when it was still reeling from the Japan earthquake and tsunami and Thai floods that ruptured its supply chain.

Oct 31, 2012

Toshiba cuts forecast on global economy worries

TOKYO (Reuters) – Japan’s Toshiba Corp cut its full-year operating profit forecast by 13 percent to 260 billion yen on Wednesday, saying the uncertain global economy weighed on its prospects.

The company said the continuing European debt crisis, slowdowns in China and India, and a strong yen were combining to “increase uncertainty about the future.”

Oct 31, 2012

Toshiba cuts 2012/13 forecast on global economy worries

TOKYO, Oct 31 (Reuters) – Japan’s Toshiba Corp cut
its full-year group operating profit forecast to 260.00 billion
yen ($3.27 billion) on Wednesday from its previous outlook of
300 billion yen, saying the uncertain global economy weighed on
its prospects.

The company said the continuing European debt crisis,
slowdowns in China and India, and a strong yen were combining to
“increase uncertainty about the future.”

Oct 30, 2012

Global machinery makers bank on China rebound in 2013

TOKYO/BEIJING, Oct 30 (Reuters) – Heavy equipment makers are
pinning their hopes on a stimulus fuelled rebound in China in
2013, after suffering another bruising quarter as the global
economy slowed faster than expected with little respite seen
before the end of the year.

Japanese excavator maker Komatsu Ltd said on
Tuesday it saw demand in China for construction and mining
equipment falling 40 percent in the last three months of 2012, a
day after Chinese rival Sany Heavy Industry Co Ltd
reported a near-60 percent slump in third quarter profits.

Oct 29, 2012

Honda cuts forecasts, hopes for China recovery in February

TOKYO (Reuters) – Honda Motor Co (7267.T: Quote, Profile, Research) cut its full-year net profit forecast by a fifth after sales in China were hit by a popular backlash against Japanese goods, and warned it could be February before business in the world’s biggest autos market returns to normal.

The cut, prompted by a slump in sales amid often violent protests in a dispute about ownership of islands in the East China Sea, makes it likely that bigger Japanese rival Nissan Motor (7201.T: Quote, Profile, Research), and possibly Toyota Motor (7203.T: Quote, Profile, Research), will follow suit when they report quarterly earnings early next week.

Oct 29, 2012

Honda cuts FY profit forecast as China backlash hits

TOKYO, Oct 29 (Reuters) – Japan’s Honda Motor Co
cut its full-year net profit forecast by a fifth after sales in
China, the world’s biggest autos market, were hit by a popular
backlash against Japanese products last month in a dispute over
East China Sea islands.

Honda cut its net profit forecast for the year to March to
375 billion yen ($4.7 billion) from its earlier estimate of 470
billion yen.

Oct 17, 2012

Nissan to install electronic “steer-by-wire” in Infiniti cars

YOKOSUKA, Japan, Oct 17 (Reuters) – Japan’s Nissan Motor Co
plans to equip some of its luxury cars with a system to
control steering electronically, rather than mechanically, the
first time so-called “steer-by-wire” technology will be used in
mass-produced vehicles.

The new technology will be introduced in some models of the
Infiniti brand within a year, Nissan said at a briefing, paving
the way for cars that could one day be steered by joysticks and
be programmed to avoid crashes automatically.

    • About Yoko

      "Based in Tokyo since 2007, I have been covering politics in the world's third-biggest economy, as well as Japan's nuclear disaster, energy issues and diplomacy."
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