Toyota's profit declines further in 1st-half despite weak yen

Toyota Motor Corp. said Tuesday its net profit in the six months ended September fell 23.2 percent to 1.17 trillion yen ($7.9 billion) from a year earlier, with its earnings situation getting even worse after the first quarter, as soaring material costs outweighed the positive impact of a weaker yen.Sales of the world's largest automaker, which posted a 17.9 percent fall in net profit in the first three months, rose 14.4 percent to a record 17.71 trillion yen in the April-September period. However, its operating profit dropped 34.7 percent to 1.14 trillion yen as the auto industry grapples …READ FULL ARTICLE