Toyota aims for operating profit of 1 trillion yen

TOKYO (AP) — Toyota’s president says the automaker will achieve an annual operating profit of 1 trillion yen ($12 billion) “as soon as possible,” even if the yen remains strong and vehicle sales drop by 20 percent.

Toyota Motor Corp. president Akio Toyoda made the pledge Wednesday as part of “the global vision” he gave in his first sweeping strategy statement since the massive recall fiasco that began a year and a half ago.

Toyoda said the board of directors will be reduced to 11 from 27 to make for quicker decision-making and to be more responsive to regional needs.

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