3. SOUNDBITE: (Japanese) Yoichiro Ichimaru, Executive Vice President, Toyota Motor Corporation
"We had initially forecasted the sales of 6.6 million cars for the coming fiscal quarter (October-December). But, we will add the sale of 0.43 million cars on top of that. So, we forecast the total sales of 7.03 million cars in the coming quarter. The hike is due to the recovery of the market thanks to the various government incentive packages and increasing sales of eco-vehicles such as hybrid cars."
4. Cutaway of reporters
5. SOUNDBITE: (Japanese) Yoichiro Ichimaru, Executive Vice President, Toyota Motor Corporation
"For this second fiscal quarter (July to September), North America ended as gain due to the recovery of our financial business, although its market condition remains severe."
Toyota Motor Corporation said on Thursday it had returned to a profit in the latest quarter as government incentives boosted sales, leading the world's largest automaker to trim its projected red ink for the year.
The world's largest car company reported a better-than-expected a 21.8 (b) billion yen, or 242 (m) million US dollar, profit for the July-September period after three straight quarterly losses.
The result marked an 84 percent plunge from the 139.8 (b) billion yen, or 1.54 (b) billion US dollar, profit racked up the same period a year ago, but underlined a gradual recovery for Toyota, which sank to its worst loss for the fiscal year which ended on March 31.
Executive Vice President of the Toyota Motor Corporation, Yoichiro Ichimaru, told a news conference in Tokyo on Thursday that the increase was due to the market's recovery "thanks to the various government incentive incentive packages and increasing sales of eco-vehicles such as hybrid cars."
The news marked the latest in a series of recoveries for Japanese automakers - rivals Honda Motor Co. and Nissan Motor Co. have both recently reported healthier earnings after taking a battering from the global economic crisis.
Toyota said it now expects to sell more vehicles for the fiscal year through March 2010, raising its projections to 7.03 (m) million vehicles from 6.6 (m) million.
The company, which makes the Prius hybrid and the Corolla subcompact, said sales in the last six months were proving better than earlier expectations as government stimulus measures around the world spur sales.
As a result, the company forecasts a smaller loss for the fiscal year of 200 billion yen - 2.2 (b) billion US dollars - much better than the 450 (b) billion yen - 5 (b) billion US dollars - of red ink it had predicted earlier.