By now, most of you who care about these things are aware that Toyota today announced an annual net profit of $9.73 billion for the fiscal that ended on March 31, more than three times of what the company made in the year before. By now you probably heard that the “weaker yen” is the reason. Not really, says Toyota, claiming that “effects of FOREX rates” added only $1.5 billion to the bottom line. There is another number you may not have heard. (Read More…)
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