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Toyota’s profits rise 78% on strong sales as the parts crunch eases

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( ) -q-17- UNDATED (Correspondent Jeremy House) “other key markets.”

Toyota’s profit for the first fiscal quarter jumped to 1.3 trillion yen, or nine-billion dollars, hitting a quarterly record for Japan’s top automaker.

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TAG: Correspondent Jeremy House reporting. The difficulty obtaining computer chips that crimped auto production in recent years has eased, although Toyota says it’s unclear when that will get totally fixed.

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VERBATIM: The company says sales grew as the parts shortages related to the coronavirus pandemic eased. Toyota’s April-June net profit rose 78% from the previous year. Quarterly sales edged up 24%, as vehicle sales improved in Japan, North America and other key markets.

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