Toyota Quarterly Profit Quadruples On Recovery

By: Associated Press
By: Associated Press

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Wednesday, May 9, 2012

Toyota is reporting January-March profit more than quadrupled to $1.5 billion from the previous year, capping off a hardship-filled year battered by the tsunami in Japan.

Toyota Motor Corp.'s profit for the fiscal year ended March plunged 30 percent to $3.5 billion, down from the previous fiscal year, as last year's tsunami damaged supply chains in northeastern Japan and hobbled Toyota production around the world.

But in a sign of solid recovery, Japan's No. 1 automaker forecast Wednesday its profit soaring to $9.5 billion for the fiscal year through March 2013.

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