Toyota profit doubles to record high as production recovers

Toyota Motor Corp. said Tuesday its operating profit in the three months ended June almost doubled from a year earlier to 1.12 trillion yen ($7.8 billion), a quarterly record for a Japanese company, helped by the yen's weakness and robust sales as its production recovered from the coronavirus pandemic.That represents a 93.7 percent increase from the April-June period last year. Its sales rose 24.2 percent to 10.5 trillion yen while its net profit jumped 78.0 percent to 1.31 trillion yen, both a record high for the fiscal first quarter.The upbeat earnings results came as Toyota ramps up its …READ FULL ARTICLE