(RTTNews) - Toyota Motor Corp. (TM: News ) reported Thursday an 84.4% fall in profit for the second quarter, reflecting sharp decline in vehicle sales in all regions, as well as the negative impact of the yen's appreciation. Further, the Japanese automaker cut down its fiscal 2010 net loss and operating loss forecast, and lifted revenue view on anticipated higher vehicle sales and demand-stimulating measures by governments worldwide. However, the company added that the outlook for global vehicle demand still remains uncertain.

On U.S. GAAP basis, consolidated net income attributable to the company for the second quarter fell to 21.8 billion yen from last year's 139.8 billion yen.

Equity in earnings of affiliated companies was a loss of 59.1 billion yen, compared to profit of 49.1 billion yen a year ago. Income before income taxes and equity in earnings of affiliated companies fell 58.8% to 75.5 billion yen from prior year's 183.4 billion yen. Operating income declined 65.8% to 58.0 billion yen from last year's 169.5 billion yen, and operating margin dropped to 1.3% from 2.8% a year earlier.

Net revenues for the quarter were 4.54 trillion yen, down 24% from 5.98 trillion yen in the same period a year ago.

On a Japan GAAP basis, unconsolidated net loss was 24.7 billion yen for the quarter, compared to prior year's net income of 151.1 billion yen. Operating loss was 83.9 billion yen, while last year's operating income was 79 billion yen. The company reported net revenues of 2.03 trillion yen, down 26.5% from 2.76 trillion yen a year ago.

On a U.S. GAAP basis, consolidated net revenues from Japan fell to 2.18 trillion yen from 3.55 trillion yen last year, and North American net revenues declined to 1.42 trillion yen from prior year's 1.86 trillion yen. Europe generated net revenues of 564.3 billion yen, lower than 867.7 billion yen a year ago.
Business segment-wise, net revenues from Automotive were 4.11 trillion yen, lower than last year's 5.44 trillion yen, and Financial Services' net revenues fell to 312.0 billion yen from 374.6 billion yen a year earlier.

In the quarter, vehicle production totaled 1.64 million units, down from 1.95 million units last year. Production in Japan, including Daihatsu & Hino, was 947 thousand units, compared to 1.20 million units in the previous year. Overseas production, including Daihatsu & Hino, fell to 688 thousand units from 754 thousand units in 2009.

Vehicle sales in the quarter fell 16.2% to 1.73 million units from last year's 2.06 million units, with sales in Japan declining to 496 thousand units from 504 thousand units a year ago, and overseas sales declining to 1.23 million units from 1.56 million units last year. Sales in North America totaled 518 thousand units, down from prior year's 629 thousand units.

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