Toyota profits hit by Tokyo earthquake impact
Toyota Motor has reported a 99% drop in quarterly profits because of the impact of March's earthquake and tsunami in Japan.
Net profit for the three months to the end of June fell to 1.1bn yen ($14.2m; £8.7m) from 190.4bn yen last year.
But the company said it was recovering from the tsunami faster than expected, and raised its full-year forecast for net profit from 280bn yen to 390bn yen.
Theo Leggett reports.
02 Aug 2011
- From the section Business