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The Independent UK
The Independent UK
National
Via AP news wire

Toyota profit down as chips shortage keeps customers waiting

Toyota Japan Hino Semiconductor
Copyright 2022 The Associated Press. All rights reserved

Toyota’s profit fell nearly 18% in the April-June quarter from the year before, as a semiconductor shortage that has slammed the auto industry dented production at Japan’s top automaker.

Toyota Motor Corp. reported Thursday a quarterly profit of 736.8 billion yen ($5.5 billion), down from 897.8 billion yen the previous year.

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