On Wednesday, in a statement Toyota Motor Corp said, its fourth-quarter operating profit has risen by 92%, nearly doubling since a year ago. The development sees the company shrugging off chip-supply issues with its sales recovering from the impact of the coronavirus-induced COVID-19 pandemic.
Toyota, Japan’s biggest automaker posted an operating profit of $6.34 billion (689.8 billion yen) in the January-March quarter, beating analysts’ estimate of 641.5 billion yen. It had posted a profit of 369.9 billion yen for the same period last year.
($1 = 108.8700 yen)