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Toyota’s profits rise as global chips supply crunch subsides

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( ) -q-22- UNDATED (Correspondent Jeremy House) “in various countries.”

Toyota’s January-to-March profit edged up 3% from the previous year on robust sales as a chips supply crunch gradually eased.

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TAG: Correspondent Jeremy House reporting. Toyota sold 10.56 million vehicles for the fiscal year through March, including its group makers like Daihatsu and Hino.

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VERBATIM: Toyota racked up four-billion dollars in quarterly net profit. Quarterly sales soared nearly 20%. The automaker is forecasting its annual profit to rise 5.2%. Automakers worldwide have been hurt by a shortage of computer chips and other auto parts because of restrictions over the coronavirus pandemic that crimped production in various countries.

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