Toyota&#39;s 2nd-Qtr Profit Shrinks on Yen, Units&#39; Slump
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Toyota Motor Corp., the world&#39;s second- largest carmaker, had an unexpected drop in quarterly profit as earnings at its truck making unit fell and a stronger yen cut the value of its overseas sales.
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Asian stock markets closed mostly lower Monday, with prices falling in Tokyo on profit-taking. Tokyo&#39;s Nikkei Stock Average of 225 issues shed 77.
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Shares of Nissan, which posted disappointing results and forecast poor results for the full year on Friday, fell 8 percent after several brokers lowered their ratings on the companyâs stock. Nissan posted a 23 percent decline in quarterly profit and cut its profit forecast to 460 billion yen ($3.8 billion) from 523 billion yen for the fiscal year ending March 31. The report raised concerns about the companyâs near-term growth prospects and UBS Securities, Credit Suisse Securities and Mitsubishi UFJ Securities lowered their ratings on the company. Nissan, based in Tokyo, had been recovering under its chief executive, Carlos Ghosn, until it faltered last year.
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Japan's Nikkei share average fell for a  second straight session on Tuesday, closing 0.99 percent lower  after the dollar's retreat below 103 yen put pressure on  exporters such as Sony Corp.
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Tokyo stocks edged lower Wednesday for the second straight day, led by export-dependent technology and automobile issues following Wall Street's overnight retreat. The U.S. dollar slid against the Japanese yen.
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Shares at Nippon Steel, the world's second largest steel firm, slump after reporting falling quarterly profits.
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Nissan Motor Co. reported a  bigger-than-expected 23 percent fall in quarterly net profit on  Friday, hurt by a sluggish recovery in U.S. sales, and lowered  its full-year forecasts despite a weaker yen.
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The chemical maker reported a quarterly profit that was lower than expected, in part due to weak demand from the housing and auto markets.
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Japan's Nikkei average closed lower on  Thursday, ending a three-day winning streak, as profit-taking  hit Toyota Motor Corp. 7203.T and other exporters that had  benefited from gains on Wall Street and a weaker yen.
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Tokyo's Nikkei lost 0.81 percent by midsession on Friday after Toyota Motor Corp.'s earnings failed to impress investors, while Sumitomo Mitsui Financial Group fell on a report of a management change.
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The aluminum maker said second-quarter profit slipped nearly 4 percent as outage costs at two smelters weighed down results.
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TOKYO -- Toyota said Monday it sold 2.34 million vehicles globally in the July-September quarter, fewer than General Motors' tally, as its U.S. rival regained the lead in the race to be the world's top automaker.
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Tokyo's Nikkei lost 0.81 percent by  midsession on Friday after Toyota Motor Corp.'s earnings failed  to impress investors, while Sumitomo Mitsui Financial Group  (SMFG) fell on a report of a management change.
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Shares in Toyota Motor Corp. (7203.T)  erased earlier gains to trade slightly lower on Thursday, a day  after the company lifted its first-half parent net profit  outlook by a third mainly to reflect a weaker-than-expected  yen.
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Toyota Motor Corp. (7203.T) posted a  near-20 percent rise in quarterly profit on Tuesday on brisk  sales in North America and Europe, but kept its full-year  forecasts unchanged -- though still on course for an eighth  straight year of record earnings.
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Toyota Motor Corp.&#39;s shares fell for a second day, after the world&#39;s second-biggest automaker had an unexpected quarterly profit drop.
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Toyota Motor Corp posted a 7.5 percent  rise in quarterly profit on Tuesday as speedy growth in China,  Russia and other emerging markets made up for a slowdown in the  United States, and it kept its annual forecasts unchanged.