TEXT-S&P says weak Q1 won't affect Toyota rating


(Press release provided by the ratings agency) TOKYO, Aug 6 - Standard & Poor's Ratings Services said on Wednesday that Toyota Motor Corp.'s weaker first quarter (April-June, 2003) results will not affect the rating on the company (AAA/Negative/A-1+). Toyota's operating income decreased by 13.2% from the same period last year, and its operating margin dropped to 8.3% from 10.1% a year earlier due to an increase in marketing-related and other expenses and a weaker yen against the U.S. ...

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