NAGOYA, Japan -- Despite robust earnings, Toyota Motor is bracing for rough seas ahead, as uncertainties loom in the world's top two auto markets, the U.S. and China.
"It would be good if our annual cost savings could reach 600 billion yen ($5.3 billion)," Koji Kobayashi, Toyota's chief financial officer and an executive vice president, said at an earnings conference Tuesday. That would be a doubling of the roughly $2.7 billion in cost cuts that the Japanese automaker achieves each year.
