[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Tuesday, 11 May, 2004, 07:18 GMT 08:18 UK
Toyota makes trillion-yen profit
Toyota car being made
Toyota is the world number two carmarker
Toyota has become the first Japanese company to turn in net profits of more than one trillion yen.

The carmaker said its net profits rose 55% in the year to March 2003, to 1.16 trillion yen ($10.2bn; 5.8bn), with sales up in every major world market.

Toyota, Asia's biggest company, overtook Ford to become the world's number two carmaker after General Motors during 2003.

It is aiming for 15% of the world automobile market within a decade.

Toyota did not forecast what its sales and profits would be for the coming year.

TOP CARMAKERS IN 2003
1. GM: 8.59 million
2. Toyota: 6.78 million
3. Ford: 6.72 million
But it said unit sales would rise to more than 7 million worldwide.

"Clearly, we are benefiting from our efforts to strengthen our overseas operations and create a global business model that is more resistant to market fluctuations and currency risk," said Toyota's president, Fujio Cho, in a statement.

Like other Japanese exporters, Toyota has been worried about the decline of the US dollar and the rise of the yen.

But analysts warn that income from the US could also suffer from a limited range of new model and flattening demand for its enormously popular Prius hybrid cars, despite its strong brand.


SEE ALSO:
Toyota helps Ford with green car
09 Mar 04  |  Business
Toyota becomes world number two
26 Jan 04  |  Business
Profits rise at Toyota
05 Nov 03  |  Business
Toyota wins on US car sales
04 Sep 03  |  Business
Weak dollar hits Toyota profits
05 Aug 03  |  Business
Japan shifts car production abroad
23 Jun 03  |  Business


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific