TOKYO (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research) is closing in on a record profit set before the Lehman crisis after topping up its annual net profit forecast by nearly $2 billion (1.24 billion pounds) and outperforming Japanese rivals as its expansion plans bear fruit.
The world’s best-selling carmaker is racking up strong sales in a healthy U.S. market while keeping costs in check and taking a breather from building new facilities, in contrast to Nissan Motor Co (7201.T: Quote, Profile, Research) and Honda Motor Co (7267.T: Quote, Profile, Research) which are grappling with heavy expansion costs.
TOKYO, Nov 6 (Reuters) – Toyota Motor Corp raised
its annual profit forecast on Wednesday, closing in on records
set before the Lehman crisis as the weaker yen and growing sales
in a healthy U.S. market sharply boost earnings.
The world’s best-selling carmaker now expects 1.67 trillion
yen ($16.95 billion) in net profit for the year ending in March
2014, compared with a previous forecast of 1.48 trillion yen.
TOKYO, Nov 6 (Reuters) – Mitsubishi Motors Corp
laid out plans to boost production and profit by about one-third
over three years with a focus on emerging markets as it turns
the page on a decade-long revival campaign.
The second-tier Japanese automaker also said it would offer
new shares to raise up to $2.1 billion to repay other Mitsubishi
companies that funded a 2004 bailout after a recall cover-up
scandal and the unravelling of its alliance with
TOKYO/PARIS (Reuters) – Renault (RENA.PA: Quote, Profile, Research, Stock Buzz) and alliance partner Nissan (7201.T: Quote, Profile, Research, Stock Buzz) will deepen cooperation with Mitsubishi Motors Corp. (7211.T: Quote, Profile, Research, Stock Buzz) to develop small cars and sedans, the companies said on Tuesday.
The move underscores Renault-Nissan chief Carlos Ghosn’s push for savings across the alliance as well as sub-scale Mitsubishi’s need for new partnerships to share costs.
TOKYO, Nov 5 (Reuters) – The Renault-Nissan alliance
and Mitsubishi Motors Corp are
planning to cooperate in building Mitsubishi-badged cars at a
Renault plant and jointly develop small cars including electric
vehicles, the carmakers said.
The announcement on Tuesday came a day before Mitsubishi
Motors, one of the only second-tier Japanese carmakers without a
major alliance with another global automaker, is set to announce
its mid-term plan that is expected to show how it will repay its
YOKOHAMA, Japan, Nov 1 (Reuters) – Nissan Motor Co
Chief Operating Officer Toshiyuki Shiga will step aside from the
No.2 post in a management reshuffle after the company slashed
its profit outlook on Friday amid a slowdown in emerging markets
and quality issues.
Chief Executive Carlos Ghosn has set aggressive expansion
targets for Japan’s second biggest carmaker to boost both global
market share and its operating margin to 8 percent by end-March
2017, but recalls and a sales slowdown in markets such as China
and Russia have a cast shadow over the plan.
TOKYO (Reuters) – Nissan Motor Co (7201.T: Quote, Profile, Research, Stock Buzz) said Chief Operating Officer Toshiyuki Shiga would step aside from the No.2 post to a job handling external affairs in a management makeover as the company grapples with quality issues amid an ambitious drive to boost market share.
Japan’s second biggest automaker by sales volume said in a statement that Shiga, 60, would become vice chairman. Chief Executive Officer Carlos Ghosn will stay on.
TOKYO, Oct 31 (Reuters) – Fuji Heavy Industries
bumped up its forecast for record profits this year by another
40 percent on Thursday and announced its sixth increase in
production capacity in barely a year as it struggles to meet
demand for its Subaru cars.
Fuji Heavy, along with fellow second-tier Japanese automaker
Mazda Motor Corp, is enjoying a rebound in the market
but bumping up against capacity constraints that limit their
ability to take full advantage.
TOKYO (Reuters) – Honda Motor Co (7267.T: Quote, Profile, Research, Stock Buzz) is on track for its best annual profit in five years and a rosier longer-term future, boosted by the popularity of the new Fit subcompact which left the company struggling to keep up with demand.
Japan’s third-largest automaker kept its operating profit target for the year to next March unchanged at 780 billion yen ($7.95 billion), up 43 percent from the year before, boosted by a weaker yen and strong sales in the United States, its biggest market.
TOKYO, Oct 30 (Reuters) – Japan’s big manufacturers, under
pressure from Prime Minister Shinzo Abe to boost wages and
create a “virtuous cycle” of growth to defeat deflation, are
showing signs they are willing to raise workers’ pay.
Abe’s reflationary policies to stimulate spending and
investment have boosted the fortunes of many corporations in
Japan, which is now the fastest growing of the G7 rich nations.