Thursday, December 23, 2010

Toyota suffered first losses in 70 years

Toyota suffered Liunianbuli. The first is December 22, 2008, Toyota issued profit warnings, as of March 31, 2009 consolidated fiscal year 2008 operating loss of 1,500 billion yen (1.68 billion U.S. dollars), because the United States, decline in auto demand in Europe and Japan as well as the appreciation of the yen against the dollar - as the largest market capitalization in Japan, Toyota is still operating loss for the first time in 70 years.
 
Previously, in response to the worsening global financial crisis, Toyota has factories in Japan and the United States to implement production cuts and the reduction of temporary workers, hoping to reduce costs, but also indefinitely postponed the establishment in Mississippi Prius hybrid car new factories and other investment plans.
United States, "The Wall Street Journal" reported that: In the face of 70 years of Toyota experience has not encountered difficulties, this year's president Katsuaki Watanabe will resign, transfer to the company chairman. Time when the global auto market downturn led to a difficult situation on the occasion of Toyota car, sparking speculation the outside world who will become his successor.
According to informed sources, this development does not mean that Toyota needs to change its strategic direction and leadership of the adjustment is largely due to the current chairman Fujio Cho health. Even so, the company's management restructuring, or will open a competition for the top leadership position Toyota race.

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