Toyota Motor Corp. has revised its group operating profit 35 percent upward from the previous forecast for the business year through March 31. Despite the damage to its supply chains from the March 11, disasters in Tohoku and the floods in Thailand from July to November, Toyota has managed to secure profits. In contrast, major electronic makers have suffered massive deficits, with Panasonic suffering a net loss of ¥780 billion and Sony a net loss of ¥220 billion.
The upward business performance revision by Japan's largest automaker, which is also the nation's largest manufacturer, has prevented a total collapse of Japan's manufacturing sector in the current business year. While it is important for individual companies to make efforts to strengthen their competitiveness, it is imperative for the government to develop a national strategy to help Japanese companies develop new products and improve their competitiveness.
Toyota expects to attain an operating profit of ¥270 billion, up from the previously forecast ¥200 billion. That is 42 percent less than the corresponding figure for the previous business year.