Will Japan's carmakers catch bailout fever?Ian Rowley
Yet more grim earnings news in Japan today. Toyota, the last of Japan’s automakers to post its half-year results, has slashed its operating profit outlook by over 70% to $6.1 billion for its fiscal year which ends in March. Given it made $5.9 billion in the six months through Sept. 30, that means it will likely make only around $200 million in the second half of the year. Toyota exec Mitsuo Kinoshita said things were so bad that Toyota has formed an “Emergency Profit Improvement Committee,” headed by CEO Katsuaki Watanabe.
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