http://www.toyota.com/about/news/cor...inresults.html
Quote:
...
Commenting on the results, TMC President Katsuaki Watanabe said, "For this fiscal year, we posted our highest ever results in both revenue and profits. There are two key points for these results. First, our profit structure has become more geographically balanced, with growing contribution from resource-rich countries and emerging countries. We believe our growth strategy of utilizing every opportunity across the full product line-up and in all regions have shown strong results. Second, net income has steadily increased due to the growth of operating profit from global operations and equity in earnings of affiliated companies. Growth of equity in earnings has been particularly strong and has more than doubled over the last four years, mainly due to the rapid growth of Chinese operations." ...
|
Last October I moved the bulk of my 401k money from USA money and mortgage funds to overseas using funds that specialize in yen and euro based companies. So I was a little curious about recent reports like "
Toyota profits warning ..." (Times Online), "
Toyota Profits Down" (WSJM, Michigan), and "
Toyota profits drop" (Autocar). Then I read Toyota's annual report and realized that once again, the fastest way to ruin is to follow the financial headlines. They are blowing out of proportion someone's speculation and ignoring the solid financial performance of Toyota.
One reason for hybrid interest is the claim by skeptics that Toyota was losing money on their hybrids. So the market moves to embrace hybrids and fuel efficient vehicles and no doubt the skeptics are going to 'connect the dots' and ignore the inconvenient truth ... Toyota is no where near going out of business and the hybrids are a major market presence.
I may move some of my 401k money over towards mortgage investments as soon as GW vetoes the current bill. The rule of thumb is to buy low and sell high and GW continues to deconstruct that part of our economy. Timing for the lowest price is not always possible but you can get a good deal from time to time.
Bob Wilson
Toyota profits - "The sky is falling..."
