Posted AT 2:30 AM EST on 05/11/09
Toyota surprises with profit, raises outlook
Tokyo — Toyota Motor Corp.'s
surprise quarterly profit and halving of its annual loss forecast failed to convince investors the world's No.1 carmaker is back on track, as government subsidies peter out and a strong yen takes its toll.Major Japanese automakers have raised their forecasts for the year to March 2010 as they squeeze out savings and government incentives from Germany to China, the U.S.
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