Another Loss for Toyota, but Signs of Recovery

In more normal economic times, the announcement of a quarterly loss running to hundreds of millions of dollars would be a grim statistic for Toyota (TM). After all, on its way to overtaking General Motors in 2008 as the world's largest automaker, Toyota would regularly meet or beat profit forecasts. And it made more money than any other automaker. At a press conference in Tokyo on Aug. 4, though, a smaller-than-expected loss was greeted as a sign that the worst may be over for Toyota and other Japanese automakers. "We're making steady progress," Toyota Senior Managing Director Takahiko Ijichi told reporters.

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