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The Independent UK
The Independent UK
National
Yuri Kageyama

Toyota's profits rise as global chips supply crunch subsides

Toyota Koji Sato Akio Toyoda United States Japan
Copyright 2023 The Associated Press. All rights reserved.

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

Toyota Motor Corp. racked up 552.2 billion yen ($4 billion) in quarterly net profit, up from 533.8 billion yen ($3.9 billion), according to results released Wednesday. Quarterly sales soared nearly 20% to 9.69 trillion yen ($72 billion).

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