Toyota (TM) Reports A Profit Of $2.26 Billion For Fiscal Year Ended March

Toyota Motor Corp. (ADR) TM has declared a profit of 209.46 billion yen ($2.26 billion) for the fiscal year ended March. Toyota had made a loss to the tune of 437 billion yen in the previous fiscal year. The turnaround comes in spite of the drop in aggregate vehicle sales of 330,000, compared to last fiscal year, and the vehicle recalls, which has plagued the company in recent times. The company is upbeat about the current fiscal year and predicts an increase of 53,000 units over the last fiscal year sales of 7.24 million units. Toyota’s ADRs on the New York Stock Exchange were down by 0.86% to $76.09 in pre-market trading.