Mazda narrows loss and projects profit in spite of weak auto markets in Asia
Article Abstract:
Mazda Motor Corp. predicted a consolidated profit for 1998 and more than halved consolidated losses for the year that ended on March 31, 1998. The company's figures were kept afloat by its restructuring and by the strong US dollar. Since Ford Motor Co. raised its share of Mazda to 33.4% in 1996, the company has been attempting to rebound from several years of losses and overspending. Mazda posted 6.8 billion yen ($50 million) in consolidated losses for the 1997 fiscal year. The company's pretax profits increased 64%.
Comment:
Predicted a consolidated profit for 1998 and more than halved consolidated losses for the year that ended on March 31, 1998
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Toyota to boost Daihatsu stake in big Japan auto consolidation
Article Abstract:
Toyota Motor Corp.'s acquisition of a majority share in Daihatsu Motor Co. is a major step towards the consolidation of the auto industry in Japan. Toyota announced that it will invest approximately 37 billion yen ($259 million) in order to increase its holdings in Daihatsu. The car maker will own 51% of Daihatsu once the transaction is completed. Toyota owned 35% of Daihatsu, a small car manufacturer, before the deal.
Comment:
Acquisition of majority share in Daihatsu is a major step towards the consolidation of Japan's auto industry
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Toyota to export its hybrid autos beginning in 2000
Article Abstract:
Toyota Motor Co. annnounced that it is expecting to export up to 20,000 gasoline-electric hybrid automobiles on an annual basis, starting in 2000, to North America and Europe. The announcement is part of the company's attempt to become a major presence in the environmentally-friendly car market. Toyota's car is the first mass-produced hybrid auto in the world. It was put on the market in Japan in December 1997.
Comment:
Expects to export up to 20,000 gasoline-electric hybrid automobiles yearly, starting in 2000, to North America and Europe
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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