J-News Mini-Roundup: Toyota’s Debt: The Biggest Japan Has Ever Seen
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J-News Mini-Roundup is a recurring feature written by Friend Of JET, Jon Hills, who maintains the blog for Hills Learning (www.hillslearning.com). Hills Learning is a NY-based language learning services company offering customized and personal Japanese language learning options.
Background: Car companies are part of the corporate identity of Japan, and at the head of the pack is Toyota. With car sales higher than GM, they’re the number one car company in the world. What the economic crisis has taught both America and Japan, however, is that being big isn’t necessarily always best. The newspapers released today the most dismal earnings forecasts that Toyota has had in its 70+ year history.
Yomiuri “850 billion yen for two years” Yomiuri states in their first paragraph that Toyota’s debt forecast will reach a whopping 850 billion yen (8.5 billion dollars), the largest debt on its balance sheet history. According to the Yomiuri, due to the economic slowdown in the world car market, next year’s debt will be twice as much as this year’s.
Nikkei “550 billion yen” The Nikkei paints a very different picture of Toyota…
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