Toyota logs April-June record net profit as virus-hit demand recovers

Toyota Motor Corp. said Wednesday its net profit surged roughly 5.7-fold to a record 897.83 billion yen ($8.2 billion) in the April-June quarter, fueled by a robust rebound in overseas sales from the negative pandemic impact 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, a record high for the April-June quarter, leaving the initial fallout of the coronavirus pandemic behind.Operating profit in the three months to June 30 stood at a record 997.49 billion yen, surging from 1…READ FULL ARTICLE