Toyota's fiscal-year net profit plunges 30.5 pct

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VietnamNet English - 30 month(s) ago 3 readings

Japanese automaker Toyota's group net profit contracted 30.5 percent to hit 283.5 billion yen (about 3. 56 billion U.S. dollars) in the fiscal year ending in March, the company said Wednesday.

Japanese automaker Toyota's group net profit contracted 30.5 percent to hit 283.5 billion yen (about 3. 56 billion U.S. dollars) in the fiscal year ending in March, the company said Wednesday.

Vehicle sales totaled 2,071,000 units in Japan, an increase of 158,000 units compared to the same period last fiscal year, while the figure for North America stood at 1,872,000 units, a decrease of 159,000 units, according to the financial results announced by the company on Wednesday.

Toyota Motor Corporation (TMC) President Akio Toyoda said the last fiscal year was challenging due to the natural disasters in Japan and the massive flooding in Thailand, plus the unprecedented strength of the yen.

"Our vision is to establish a strong business foundation that will ensure profitability under any kind of difficult business environment," Toyoda said.

The carmaker forecast that consolidated vehicle sales for the current fiscal year ending March 31,2013 will be 8,700,000 units, an advance of 1,350,000 units from the previous fiscal year due to expanded sales volume in regions.

The net profit forecast for the current fiscal year stood at 760 billion yen, based on an exchange rate of 80 yen to the U.S. dollar and 105 yen to the euro.

VietNamNet/Xinhuanet

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