TOKYO - Toyota's first-quarter profit crumpled more than 75 percent after the earthquake of March and tsunami wiped out parts suppliers in the north-eastern Japan, passenger car production significantly disrupt.
The manufacturer of the popular Prius hybrid gave no forecast for the current financial year to March 2012, citing uncertain prospects as production continues to be hampered by lack of parts. Toyota is expected to lose its place as the world's best-selling automaker General Motors co. this year because of accidents.
The car manufacturers who said he and others are to keep "crunched our teeth" jobs in Japan Toyota President Akio Toyoda. He promised to disclose earnings forecasts from mid-June.
Toyota Motor Corp. reported Wednesday, January-March earnings slipped to 25.4 billion yen (314 million US dollars) from 112.2 billion yen a year earlier. For the year to end March 2011 Toyota result doubled, indicating that the Japanese automaker on the way to the restoration had been from its recall crisis, when the magnitude 9.0 earthquake met on 11 March.
But Toyota also said efforts to resolve production, including the use of other plants and search for spare parts, were better than originally expected, recover Disadter levels with automotive industry gradually in Japan and abroad from next month up to 70%.
Toyota said earlier, that such improvements with full recovery start production in Japan by July, and overseas in August, not until the end of this year would not.
Story: Jaguar, exposed once almost extinct, claws"Back to normal and restore from the disaster get our priority our production", a dark Toyoda told reporters. As a full recovery would be nor was unknown, he said.
By the end of may, the crisis has the RSC production of 550,000 vehicles in Japan, and a further 350,000 overseas costs. Production is now back to around 50 per cent.
"The revival of our company, we want to bring Japan's comeback," said Toyoda.
Analysts say he Quake and tsunami have bitterly hurt Toyota, but a production recovery could come quickly.
"I believe chances can be good, that repeatedly production would be speedy," said Shotaro Noguchi, analyst at SMBC Nikko capital markets in Tokyo, in a recent report.
Yet Toyota may face a different kind of challenge in the months because the Government for a shutdown of the nuclear power plant Hamaoka has asked that is located on a fault line and provides the power supply for the region, where Toyota has its headquarters, and has many plants and suppliers.
The request came because of growing fears about the safety of nuclear energy after the tsunami work on the northeast coast, send the cooling systems in the Fukushima Dai-Ichi to the verge of a meltdown damaged.
Toyoda has not said how much the Hamaoka would reduce shut down production, but promised it would do to secure their utmost to a stable power supply.
He said production on all rows for all models would again be at the Disadter level of November or December at the latest, most, but efforts are under way to do it faster.
The hit taken Toyota makes it likely a resurgent General Motors the title of world's no. 1 manufacturer of vehicle regain annual sales is. In 2008, Toyota overtook GM as the world's largest automaker, a distinction the American manufacturer had held since 1932.
Toyota said it 7.31 million vehicles for the fiscal year to March 2011 to by 71,000 vehicles from the previous year sold.
For the period January-March, Toyota sold 1.79 million vehicles worldwide. This is less than GM sold 2.22 million vehicles and less than no. 3 automaker, Volkswagen AG, Germany, 1.99 million.
Toyoda said that the automaker was still about 30 types of parts, which was an improvement over the 150, it lacked in. Toyota hopes, with 70 percent of its pre-quake levels produced by June.
Car manufacturers of the full-year results highlight how, when the earthquake struck, had Toyota on the way to a recovery from the callback was worldwide, been fiasco, affect 14 million vehicles, dragged his reputation for quality affected.
Sales in the January March quarter dipped 12 percent on the previous year to 4.6 trillion yen (57 billion dollars), according to Toyota. For the year to end March 2011 doubled profit on 408.1 billion yen ($ 5 billion) of 209.4 billion yen in the previous year. Annual sales edges up 0.2 percent to 18,99 trillion yen ($234 billion).
Toyota said vehicle sales fell in Japan, North America and Europe, but it had robust sales in other regions, like the rest of Asia, Africa and South America.
Toyota fights rival, especially in the United States, where the April sales rose by only 1 per cent over the previous year, while GM car and truck sales rose 26 percent and South Korean Hyundai Motor Company 40 percent of sales posted a jump.
Like other Japanese exporters Toyota by the rising yen, violated been that erodes overseas income. The dollar now has 80 yen from about 90 yen a year before in the vicinity of fallen.
"Despite negative such as such as a rapid rise in the yen and the earthquake, our profit strongly rose, thanks to the massive cost and distribution to reduce efforts, factors", said result Toyoda, referring to the year as a whole.
Honda reported a quarterly profit drops 38 percent in the last month, has said it did not expect full production in Japan back to the end of the year.
Toyota shares closed up 0.6 percent to 3,270 yen ($40) in Tokyo, shortly before the earnings were announced. That is from before the earthquake are still 9 percent.
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