Japanese auto giant Toyota is expected to report over US$1 billion in operating profit for the April-June period, recovering from the previous year’s massive loss, a business paper said yesterday.
In the quarter, the Toyota group — including Hino Motors and Daihatsu Motor — appears to have sold up to 1.9 million units, about 30 percent more than a year earlier, the Nikkei business daily said without citing sources.
Its operating profit is expected to reach about ¥100 billion (US$1.14 billion), recovering sharply from the previous year’s loss of ¥194.8 billion, thanks to higher sales in Asia and the Middle East, it said.
PHOTO: REUTERS
In Japan, Toyota enjoyed robust sales of the Prius, while sales in North America were also recovering thanks to incentives, although its operations were still feeling the effect of recalls, it said.
In addition to the expanded sales mainly in emerging nations and resource-rich countries, the company offset the effect of the strong yen through streamlining, it said.
However, Toyota was unlikely to upgrade its full-year forecasts, in part because of uncertainty over Western economies, the paper said.
Toyota has pulled about 10 million vehicles across the world since late last year because of massive safety recalls.
Despite the impact of the recalls, the automaker expects operating profit to rise nearly 90 percent to ¥280 billion in the year to March next year.
MORE VISITORS: The Tourism Administration said that it is seeing positive prospects in its efforts to expand the tourism market in North America and Europe Taiwan has been ranked as the cheapest place in the world to travel to this year, based on a list recommended by NerdWallet. The San Francisco-based personal finance company said that Taiwan topped the list of 16 nations it chose for budget travelers because US tourists do not need visas and travelers can easily have a good meal for less than US$10. A bus ride in Taipei costs just under US$0.50, while subway rides start at US$0.60, the firm said, adding that public transportation in Taiwan is easy to navigate. The firm also called Taiwan a “food lover’s paradise,” citing inexpensive breakfast stalls
TRADE: A mandatory declaration of origin for manufactured goods bound for the US is to take effect on May 7 to block China from exploiting Taiwan’s trade channels All products manufactured in Taiwan and exported to the US must include a signed declaration of origin starting on May 7, the Bureau of Foreign Trade announced yesterday. US President Donald Trump on April 2 imposed a 32 percent tariff on imports from Taiwan, but one week later announced a 90-day pause on its implementation. However, a universal 10 percent tariff was immediately applied to most imports from around the world. On April 12, the Trump administration further exempted computers, smartphones and semiconductors from the new tariffs. In response, President William Lai’s (賴清德) administration has introduced a series of countermeasures to support affected
CROSS-STRAIT: The vast majority of Taiwanese support maintaining the ‘status quo,’ while concern is rising about Beijing’s influence operations More than eight out of 10 Taiwanese reject Beijing’s “one country, two systems” framework for cross-strait relations, according to a survey released by the Mainland Affairs Council (MAC) on Thursday. The MAC’s latest quarterly survey found that 84.4 percent of respondents opposed Beijing’s “one country, two systems” formula for handling cross-strait relations — a figure consistent with past polling. Over the past three years, opposition to the framework has remained high, ranging from a low of 83.6 percent in April 2023 to a peak of 89.6 percent in April last year. In the most recent poll, 82.5 percent also rejected China’s
PLUGGING HOLES: The amendments would bring the legislation in line with systems found in other countries such as Japan and the US, Legislator Chen Kuan-ting said Democratic Progressive Party (DPP) Legislator Chen Kuan-ting (陳冠廷) has proposed amending national security legislation amid a spate of espionage cases. Potential gaps in security vetting procedures for personnel with access to sensitive information prompted him to propose the amendments, which would introduce changes to Article 14 of the Classified National Security Information Protection Act (國家機密保護法), Chen said yesterday. The proposal, which aims to enhance interagency vetting procedures and reduce the risk of classified information leaks, would establish a comprehensive security clearance system in Taiwan, he said. The amendment would require character and loyalty checks for civil servants and intelligence personnel prior to
RSS