Toyota ’09/10 profit may reach 100 bln yen-Yomiuri

TOKYO, May 9 (BestGrowthStock) – Toyota Motor Corp’s (7203.T: ) group
operating profit for the year that ended on March 31 could
reach around 100 billion yen ($1.1 billion), the Yomiuri
newspaper said on Sunday, days ahead of the firm’s May 11
earnings report.

The world’s biggest automaker, hit by a series of recalls
and incidents that damaged its reputation for quality, would
beat its loss forecast helped by government incentives to boost
sales and by cost-cutting efforts, Yomiuri reported, without
citing sources.

Toyota slashed its operating loss forecast to 20 billion
yen from 350 billion yen in February after it posted an
operating profit of 189 billion yen in the three months to
December. [ID:nTOE61302G]

Average forecasts out of a pool of 21 analysts compiled by
Thomson Reuters I/B/E/S showed that the automaker is expected
to have logged a 46 billion yen operating profit for the
2009/10 business year.

Toyota’s U.S. vehicle sales rose nearly 13 percent for the
year-to-date through April despite the massive recalls.

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(Reporting by Yoko Kubota; Edingg by KLim Coghill)

Toyota ’09/10 profit may reach 100 bln yen-Yomiuri