Daihatsu's Profits Up Nearly Fivefold – Good Omen For Toyota
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)
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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I wanted Daihatsu Rush, but had to settle for a Jeep Wrangler Rubicon.