#ProfitsQ1FY2011

Three Japanese automakers, Honda, Nissan, and Fuji Heavy are officially out of the woods, at least financially. The Nikkei [sub] says they “put the global financial crisis behind them, reporting net profits that surpassed those from two years earlier in the April-June quarter.”

The suspense-filled wait for Toyota Motor Corp’s first quarter profits is finally over. Some expected (hoped?) that ToMoCo would pay dearly for the recalls. Others consulted their crystal ball that said that Toyota might have netted more than a billion US in the first quarter. They were all wrong. Way off the mark. Not even on the same planet.