What Economic Recovery? Toyota has 72% drop in profits, Japanese Yen to blame

Toyota is reporting a huge drop in profits for the last nine months of 2011.  Profits fell by 72%!

But don’t blame the drop in profit on lack of sales. Sales for the same time fell by 10%.

Toyota says the increasing value of the Yen caused the huge drop in profits, and production halts due to natural disasters, in Japan and Thailand, caused the drop in sales.