Toyota profit jumps to $3.71 bn in Q1August 3, 2012 - 11:39 AMT PanARMENIAN.Net - Toyota said Friday, August 3 that its fiscal first-quarter profit skyrocketed to $3.71 billion as the Japanese auto giant recovered from last year's quake-tsunami disaster, AFP said. The company said it earned 290.3 billion yen between April and June, up from just 1.16 billion yen a year ago -- the first full quarter after Japan was devastated by the March 11 natural disasters that dented production and demand. Sales in the period shot up nearly 60 percent to 5.50 trillion yen, the automaker said. Its operating profit reached 353.14 billion yen, swinging back into the black after an operating loss of 107.96 billion yen a year ago. Toyota kept its annual net profit forecast at 760 billion yen on sales of 22.0 trillion yen. "In all regions, vehicle sales increased significantly due to strong recovery of demand which had suffered last year from the lack of supply caused by the Great East Japan Earthquake," Senior Managing Officer Takahiko Ijichi said in statement. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Concept to complete Yerevan Cascade discussed at city hall A conceptual proposal to complete the Cascade complex in downtown Yerevan has been presented by Jean-Michel Wilmotte. Pashinyan visits flood-hit region Armenian Prime Minister Nikol Pashinyan on Saturday, June 8 visited the disaster area in the Lori province. €3.5 mln EU grant to support justice reforms in Armenia The European Union has paid €3.5 mln grant to Armenia within a €11mln program on Support to Justice Reforms. Yerevan reacts to Baku’s proposal to see Minsk Group abolition Alen Simonyan has declared that Armenia is taking steps aimed at concluding a peace treaty with Azerbaijan. |