Toyota profits hit record high as weak yen covers quality scandal

Toyota Motor Corp. said Thursday its net profit in the three months to June rose 1.7 percent from a year earlier to a record 1.33 trillion yen ($8.9 billion), as a boost from a weaker yen offset losses caused by a series of quality scandals that have dogged the world's biggest automaker group.Its group-wide sales fell 4.2 percent to 2.64 million units as the company partially halted domestic production after cheating in vehicle certification tests was uncovered across the group. Tough competition in China also contributed to the fall.Operating profit rose 16.7 percent to 1.31 trillion yen o…READ FULL ARTICLE