Recalls a Minor Setback For Toyota

Article Excerpt

TOYOTA MOTOR CORP. ADRs $110 (New York symbol TM; Conservative Growth Portfolio, Manufacturing & Industry sector; WSSF Rating: Above average) earned $2.00 per ADR in its first fiscal quarter ended June 30, 2006, up 31.6% from $1.52 a year earlier. (Each American Depository Receipt equals two common shares.) Sales rose 6.3%, to $49.0 billion from $46.1 billion. Many Toyota vehicles share the same parts. That helps keep its costs down, and gives it greater clout with suppliers. But it also increases the cost of recalls. Due to a defective part, the company has had to recall over one million vehicles worldwide in the past few months. However, it’s unlikely that these recalls will damage Toyota’s reputation. Toyota is a buy. buy…

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