TOKYO -- If General Motors' stock continues to fall, Toyota Motor Corp. theoretically could shell out just one year's worth of profits to buy the Detroit automaker.
Toyota's market capitalization already is greater than that of GM, Ford Motor Co. and DaimlerChrysler AG combined. Market capitalization is the stock price times the number of outstanding shares.
GM's value continues to fall with its stock price. On March 24, GM's market capitalization was $16.6 billion. Indeed, the stock market values GM at less than Harley-Davidson Inc. It values the motorcycle maker at $17.3 billion.
Toyota expects to post operating profits of ¥1.67 trillion, or $15.69 billion at current exchange rates, in the fiscal year ending Thursday, March 31.
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