- Japanese Automaker Toyota Reports Record Earnings. - Japan's largest automaker reports record earnings while the country's top cosmetic maker sees its profit slide.. - Toyota Motor is powering ahead, becoming Japan's largest company by market value and reporting record sales and profit for the first six months of the year.. - Toyota said this week that its net profit rose 23 percent to $4.8 billion for the first half of the year compared with the same period last year. - Revenue rose eight percent to $75 billion. - Managing Director Takeshi Suzuki tells reporters that he is pleased with the company's performance. - He adds that the automaker is increasing local production around the world to minimize the effects of volatile currency exchange rates.. - Toyota says it aims to control 15 percent of the world auto market by 2010, up from the current level of just over 10 percent.. - Japan's second biggest automaker, Honda, is recalling almost 700,000 vehicles in the United States and Canada because of a defect.. - Honda says it will recall five models including the popular Accord sedan because of a faulty mechanism that causes parked cars to roll. - The recall will cost the company $32 million.. - National Highway Traffic Safety Administration says there have been four injuries linked to the defect and more than 100 complaints have been made about it.. - Shiseido say its net profit declined 34 percent in the first half of the fiscal year to $60 million, from the same period a year earlier.. - Overseas sales, which account for a quarter of the company's revenue, were down sharply. - But many would-be travelers stayed home this year because of the U.S.-led war in Iraq and the outbreak of Severe Acute Respiratory Syndrome.
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