Latest financial news and analysis articles 
Coverage of company financial results and analysis of company financial performance
JAPAN: Toyota nine-month operating profit plunges 72% on costs and currency
7 February 2012
Toyota Motor (TMC) operating profit for the nine months to 31 December, 2011 plunged 72% year on year to JPY117.1bn (US$1.52bn) on sales down 10.2% to JPY12.9 trillion. Net income fell from JPY382.7bn to JPY162.5bn. The company has, however, revised upwards its fiscal full-year forecast for 2011/12.
INDIA: Mahindra & Mahindra readying Saab bid - paper
7 February 2012
Mahindra & Mahindra, one of four companies interested in Saab Automobiles, has signed a confidentiality agreement with the bankrupt company and is in the process of finalising its bid, an Indian media report said. China's BAIC, possibly in conjunction with Panasonic reportedly may also submit a bid.
US: Fisker halts Delaware development
7 February 2012
Fisker has halted work at the former General Motors plant in Delaware, where it plans to build Project Nina, its plug-in hybrid family car, laying off 26 workers there and axing a further 40 contract (temporary) employees from its California headquarters.
INDIA: Mahindra & Mahindra net profit dips 10%
7 February 2012
Mahindra & Mahindra has posted a worse than expected 10% year on year fall in third-quarter net profit. It had booked an exceptional gain in 2011.
RESULTS PREVIEW: Daimler to get trucks boost to end-year results
6 February 2012
Daimler is poised to post strong full-year financial results later this week (February 9) boosted by strong performances in its heavy trucks and financial services divisions.
JAPAN: Suzuki nine-month profit falls
6 February 2012
Suzuki Motor nine-month operating profit dipped 5.1% to JPY87.7bn on sales down 6.7% to JPY1.8 trillion due to a volume fall in India, ongoing effects of the Japanese earthquake, and yen appreciation, the automaker announced.
GERMANY: Schaeffler places US$2bn bonds in capital markets
6 February 2012
Schaeffler says it has successfully placed EUR2bn (US$2.6bn) of bonds in the international capital markets, with the issue oversubscribed by around five times.
JAPAN: Mitsubishi returns to profit in fiscal Q3
3 February 2012
Reduced costs and an improved model line-up helped Mitsubishi reverse last year’s loss to post a net profit in the nine months to December 2011.
BELGIUM: CLEPA cautions Saab receivers not to sell assets to pay huge lawyer army
3 February 2012
Europe's automotive supplier body CLEPA, is urging Saab receivers not to sell off the bankrupt automaker piecemeal in order to pay a vast army of lawyers.
JAPAN: Denso nine-month net income drops 71.9%
3 February 2012
Denso announced financial results for the nine months ending 31 December 2011 showing that onsolidated net income fell 72% year on year to JPY36.4bn (US$467.8m) and consolidated operating income was off 53% to JPY82.1bn on consolidated net sales down 6.1% to JPY2,214.4bn.
JAPAN: NSG closing Pilkington UK float line
3 February 2012
Japan's NSG Group, said its UK-based Pilkington automotive and building glass unit is to close a float glass production line due to falling demand. It has also revised down its fiscal 2012 full year forecast.
ITALY: Fiat-Chrysler full year financials "ahead of guidance"
2 February 2012
Combined Fiat-Chrysler revenues and trading profit for calendar year 2011 were "significantly ahead of guidance" at EUR59.6bn and EUR2.4bn respectively, "despite uneven trading conditions, particularly weak in Europe in the second half", Fiat Group Automobiles said in a trading statement on Thursday (2 February). The result included Chrysler's contribution from June 2011.
GOLDING’S TAKE: Marchionne tells rival car makers to behave
2 February 2012
Sergio Marchionne was in ebullient form when he hosted the telephone conference call to explain the Fiat/Chrysler financial results announced yesterday (1 February).
JAPAN: Mazda expects losses to worsen
2 February 2012
Mazda today (2 February) reported a group net loss of JPY112.84bn (US1.3bn) for the April-December period, blaming sluggish sales because of the yen's strength and Europe's debt crisis.
UK: Deloitte ‘failed at MG Rover’
2 February 2012
Auditors Deloitte and one of its partners failed to meet professional standards in advising the Phoenix Four consortium who bought MG Rover Group before the company collapsed in 2005 with the loss of 6,500 jobs and GBP1.4bn (US$2.2bn) in debts.
TURKEY: Oyak Renault plans investment boost
2 February 2012
Carmaker Oyak Renault plans to increase its annual investment figure to $254m from $176m a year earlier, its general manager said.
US: Chrysler doubles operating profit
1 February 2012
Despite a $551m loss on extinguishment of debt in the second quarter, Chrysler on Wednesday (1 February) reported full year 2011 net income of $183m, up from a net loss of $652m in 2010. Fourth quarter net income was $225m and full year operating profit more than doubled to $2bn.
JAPAN: Yazaki secures DoJ deal to pay US$470m price-fixing fine in five tranches
1 February 2012
Japanese component supplier Yazaki says it will pay off its gargantuan price-fixing fine in five installments starting this year.
JAPAN: Yazaki top two return salaries as DoJ stuns with US$470m price-fixing fine
1 February 2012
Yazaki's chairman and president will return half of their salaries for three months in response to the US Department of Justice's (DoJ) enormous price-fixing fine.
JAPAN: Denso pays US$78m as DoJ imposes massive cartel fines
1 February 2012
Denso has concluded a plea agreement with the US Department of Justice (DoJ) and will pay a fine of US$78m based on charges it violated anti-trust laws in connection with sales of certain automotive components, specifically, certain body electronic control units and heater control panels to one of its customers.
JAPAN: Mitsubishi Electric investigated for overcharged expenses
1 February 2012
Auto supplier Mitsubishi Electric announced that starting 31 January, the company was being investigated by Japan's Ministry of Defence, Cabinet Satellite Intelligence Center and Japan Aerospace Exploration Agency following revelations that the company overcharged the three parties for expenses.
JAPAN: Thai floods hit Honda third quarter profits
31 January 2012
Honda Motor net income for the fiscal third quarter ended 31 December, 2011 fell 41.2% to JPY47.6bn on sales off 8% to JPY1,942.5bn ($24,988m).
US: "Pernicious cartel" sees Yazaki and Denso pay huge price-fixing fine
31 January 2012
Two Japanese suppliers of automotive electrical components -Yazaki and Denso -have agreed to plead guilty and to pay a total of US$548m in criminal fines for their involvement in multiple price-fixing and bid-rigging conspiracies in the sale of parts to automobile manufacturers in the US, the Department of Justice has announced.
SWEDEN: Debt Office to sit on first Saab Parts board meeting tomorrow
31 January 2012
Sweden's National Debt Office (SNDO) is to sit on the board of Saab Automobile Parts for the first time tomorrow (1 February) as the State looks to secure its loan guarantee repayment.
CHINA: SAIC sales outperform the market
31 January 2012
SAIC has forecast a rise of more than 40% in 2011 net income because of high demand for German and American marques made at its Shanghai joint venture factories.
RUSSIA: Daimler and Renault to raise local JV stakes
31 January 2012
Newswire reports on Tuesday (31 January) said Daimler and Renault are ready to take controlling stakes in their Russian partners, citing state conglomerate Russian Technologies which holds stakes in the automakers.
GERMANY: VW board to discuss Porsche deal
31 January 2012
Volkswagen's supervisory board is to discuss plans to acquire the remaining 50.1% of Porsche SE'S sports car business at a meeting on 14 February.
SOUTH KOREA: Hyundai Motor boosts 2011 sales and profits
30 January 2012
Hyundai Motor Company, South Korea’s largest automaker, posted global sales of 4,059,438 units (domestic plants: 1,884,633, overseas plants: 2,174,805) in 2011, up 12.4% year on year.
SOUTH KOREA: Kia books record profits, sees growth slowing
30 January 2012
Hyundai Motor affilate Kia Motors, like its parent, has reported record-high earnings for 2011 thanks to its upgraded brand image and strong sales growth in overseas markets.
US: Delphi posts FY 2011 net income up 16% to US$1.1bn
30 January 2012
Delphi Automotive has reported full year net income up 16.1% to US$1.1bn, while Q4 2011 revenue was US$3.9bn, an increase of 6.8%, with fourth quarter net income of US$290m.
