Big quarter expected at ToyotaIan Rowley
Toyota’s quarterly results are out on Friday and, if reports in Japan’s Nihon Keizai (Nikkei) newspaper prove correct, they look like being huge. Without quoting sources, the Nikkei reported over the weekend that Toyota’s operating profit will reach a mind-boggling $4.3 billion—up 23% from last year—for the three months through June. Sales for the same period should rise 10% to $48 billion. What’s more, despite a few problems of late including increasing recalls and a sexual harassment lawsuit against a former top executive, the Nikkei reckons operating profit for the year through March 2007 could top 2 trillion yen ($17.4 billion).