Toyota reports record earnings for fiscal 2007

Tokyo - Toyota Motor Corp.Toyota Motor Corp reported record earnings for the fiscal year 2007 that ended in March on strong sales, especially in China, and cost reduction efforts, despite the yen's rise and rising prices of raw materials, the company announced Thursday.

The top Japanese automaker's sales jumped 9.8 per cent from a year before to a record 26.29 trillion yen (250.31 billion dollars) and operating profit rose to a record 2.27 trillion yen, up 1.4 per cent.

Net income grew 4.5 per cent to 1.72 trillion yen, which was also record high.

But for the current year through March 2009, the company expected its operating profit to make the first fall in nine years to 1.6 trillion yen, down 29.5 per cent. (dpa)

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