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New hurdle for Japan's carmakers (2)

By John Zeng  (China Daily)

08:14, September 25, 2012

Crucial market

In 2008, Toyota suffered a loss of $4.4 billion, but its two joint ventures in China - FAW Toyota and GAC Toyota - made profit of about $1 billion during the year.

According to financial statements from Toyota, the carmaker had a 2010 profit of 209.5 billion yen (about $2.25 billion), with the Chinese market contributing $800 million to the figure. If the 30,000 imported Lexuses are added, its sales in China totaled at least $1 billion.

Last year Toyota had a net profit of about $3.5 billion, with FAW Toyota alone contributing $2.3 billion.

The situation for Honda is similar. Its 2009 global net profit was $3.18 billion, with $2.86 billion of it generated in China.

It is estimated that Honda made a profit of about $884 million in China last year, about a third of its $2.6 billion globally.

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