Toyota net profit jumps over 5-fold to 897.83 bil. yen in April-June

Economy

Toyota Motor Corp. on Wednesday reported a 5.6-fold year-on-year increase in net profit to a record 897.83 billion yen ($8.2 billion) in the April-June quarter, fueled by robust overseas sales and favorable currency rates. Despite a global shortage of semiconductors casting a pall over the auto industry, Toyota's sales grew 72.5 percent to 7.94 trillion yen in the quarter, leaving the initial fallout of the coronavirus pandemic behind. Operating profit in the three months to June 30 stood at 997.49 billion yen, surging from 13.92 billion yen a year earlier. The major Japanese automaker maintai...

Kyodo News

Kyodo News