{"id":14633,"date":"2011-11-08T17:25:00","date_gmt":"2011-11-08T17:25:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/toyota-q2-profit-falls-19-tm\/14630\/"},"modified":"2011-11-08T17:25:00","modified_gmt":"2011-11-08T17:25:00","slug":"toyota-q2-profit-falls-19-tm","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/toyota-q2-profit-falls-19-tm\/14633\/","title":{"rendered":"Toyota Q2 Profit Falls 19% (TM)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><br \/>\n<!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><br \/>\n<!--\/mfunc--><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-3470\" title=\"toyota\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2010\/12\/73-150x150.jpg\" alt=\"toyota\" width=\"150\" height=\"150\">Japanese automaker Toyota Corporation (ADR) (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=tm\">NYSE: TM<\/a>) today reported a 19% drop in its second-quarter profit, mainly due to the yen\u2019s appreciation against the U.S. dollar and production cutbacks which affected sales.<\/p>\n<p>&nbsp;<\/p>\n<p>Toyota postponed a possible revision of its earnings forecast for the full year due to a number of reasons, including the uncertainty over production in Thailand. Back in August, the company said that it expects to a post a profit of $5.01 billion for the fiscal year ending March 2012.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>CFO Satoshi Ozawa today said that a lot of negative factors have piled up one after another. Toyota\u2019s production suffered following the massive earthquake and tsunami that hit Japan in March this year. Even as the automaker\u2019s production was recovering from shortages, its output was once again impacted by component shortages due to the recent flooding in Thailand.<\/p>\n<p>Toyota\u2019s results have also been impacted by a stronger yen. The volatility seen in the financial markets since August has boosted demand for safe haven assets, pushing the Japanese yen higher against the dollar. Last month, the rising yen prompted the Japanese government to intervene in the currency market; however, the currency\u2019s appreciation has already done a lot of damage to Japanese exporters.<\/p>\n<p>Toyota cited the sharp rise in the yen as the main reason for a decline in profit. For the second quarter, Toyota reported a profit of yen 80.4 billion, down from yen 98.7 billion reported for the same period in the previous year. The company\u2019s sales for the second quarter fell 4.8% to yen 4.575 trillion. Operating profit at the company\u2019s underlying automotive business dropped 32% on a year-over-year basis.<\/p>\n<p>Following the weak second-quarter financial results, Toyota ADRs fell to a new 52-week low of $63.53 in trading today. Toyota ADRs ended the day 1.33% lower at $64.61 on above average volume of 729,835.<\/p>\n<p>&nbsp;<\/p>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Japanese automaker Toyota Corporation (ADR) (NYSE: TM) today reported a 19% drop in its second-quarter profit, mainly due to the 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