This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Toyota Expects 2011 Profit to Rise 48%

TOKYO ( TheStreet) - Toyota (TM - Get Report), the world's No. 1 automaker, returned to profit in the fiscal year ended in March and forecasts profit for fiscal 2011 to rise 48%.

Toyota, plagued by recalls for much of the fiscal year, said net income for fiscal 2010 was 209.4 billion yen ($2.26 billion), a reversal from a year-earlier loss of 437 billion. Sales were 18.95 trillion yen, a decline of 7.7%.

Toyota said Tuesday that vehicle sales for the fiscal year fell by 330,000 units to 7.24 million units. In North America, vehicle sales totaled 2.1 million units, a decrease of 114,000 units.

Toyota estimates that vehicle sales for the next fiscal year will be 7.29 million units, an increase of 53,000 from fiscal 2010 because of increased sales volumes in regions outside of Japan.

Toyota said it expects profit to increase 48% to 310 billion yen for the year ending in March 2011 on net revenue of 19.2 trillion yen.

-- Reported by Joseph Woelfel in New York.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
TM $119.57 1.47%
AAPL $112.92 2.94%
FB $89.73 2.91%
GOOG $637.61 1.43%
TSLA $242.99 8.07%

Markets

Chart of I:DJI
DOW 16,654.77 +369.26 2.27%
S&P 500 1,987.66 +47.15 2.43%
NASDAQ 4,812.7080 +115.1720 2.45%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs