Toyota’s Cash Pile Grows to Record $36.6 Billion After Dumping Securities
- Short-term marketable securities drop 22% to decade low
- Car giant’s cash and equivalents jump 11% over six months
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Toyota Motor Corp.’s cash pile expanded to a record 3.98 trillion yen ($36.6 billion) by the end of September after Japan’s biggest company scaled back its investments in securities.
Cash and equivalents increased by 405.1 billion yen in the first six months of the fiscal year, or 11% above the end of last fiscal year, the automaker said in its earnings statement Thursday. Time deposits jumped 18% to 1.33 trillion yen.