Toyota Posts Strong Profits For Year To March 2011 – Earthquake Effect Yet To Be Fully Felt

Toyota has posted strong operating profits for the annual period up to March 2011 – 3.2 times higher than the previous year. These profits were boosted in large part by positive market conditions in Asia as well as a review of model pricing.

However, although these posted figures look strong, analysts are saying that the full effect of the March 11th earthquake were not being felt until the end of this March accounting period, so we can expect the April and later figures to reflect this impact more fully.

As I wrote in a previous post, April new car sales figures saw Toyota drop 68.7% over the same period last year – the biggest drop out of all the Japanese car manufacturers. It is likely the 2011 to 2012 profit figures will be hit hard if this is anything to go by.

Source: Reuters (Japanese-language)