The market took note when little Daihatsu announced that its group net profit jumped 460 percent year on year to 19.9 billion yen ($227m) in the April-June quarter of the Japanese fiscal year. Daihatsu is a Toyota company, and the market is eagerly expecting Toyota’s results.
What is interesting is that profits shot up nearly fivefold while sales rose by a sedate 20 percent from the same period last year. It’s mostly cost cutting that boosted earnings. Those cost cutting measures usually are not limited to one division only. Just like Toyota, Daihatsu did not change their guidance for the rest of the year. In case you are trading currencies: Daihatsu doesn’t expect any major surprises in the dollar/yen rate. They have the greenback at 90 yen in their budget (currently 87.5). They expect the Euro to appreciate to 125 yen (currently 113.8)