UPDATE 1-Toyota aiming for parent-only operating profit - Nikkei

Newswire

July 1 (Reuters) - Toyota Motor Corp will continue to slash costs in a bid to swing back to an operating profit on a parent-only basis, The Nikkei business daily reported. Toyota is trying to compete with South Korean and Chinese cars by reducing procurement costs by up to 30 percent, Chief Financial Officer Satoshi Ozawa told Nikkei in an interview. The company also expects to launch a new line of cars in 2013, Ozawa told the daily. "We'll also hike per-car sales prices. If we shift ...

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