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Toyota aims for operating profit of 1 trillion yen

Toyota aims for operating profit of 1 trillion yen

March 9th, 2011 in News

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.