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What’s Important in the Financial World (11/5/2012)

24/7 Wall St.

Toyota Going Strong

Toyota Motor Corp. (NYSE: TM) continues to do well financially, as shown by its fiscal first-half figures, which cover the period ended September 30.

On a consolidated basis, net revenues for the first half of the fiscal year totaled 10.9 trillion yen, an increase of 36.1 percent compared to the same period last fiscal year. Operating income increased from a loss of 32.6 billion yen to 693.7 billion yen, an increase of 726.3 billion yen, while income before income taxes was 794.5 billion yen. Net income increased from 81.5 billion yen to 548.2 billion yen.

The most notable aspect of the numbers is that the trouble between China and Japan did not hurt Toyota sales enough to badly damage its earnings. Toyota did mention China as a challenge going forward, but management made encouraging comments about the balance of the year:

Although currency fluctuations…

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