Toyota: the earnings drop 69%

Toyota profits for the second quarter of melted nearly 70% over the previous year, announced the Japanese car giant on Thursday as we are witnessing a dramatic decline in sales and the yen is rising levied on Japanese exports.

The net result for Toyota July-September period amounted to U.S. $ 1.4 billion, a dip of 69% compared to the same period of the prior year.

Toyota has also revised its forecast results was lower for its fiscal year ending in March 2009, with profits of $ 5.5 billion, half the previous forecast of $ 12.6 billion.