BUSINESS Toyota annual net profit jumps 10.3%, further growth forecast

BUSINESS

Toyota annual net profit jumps 10.3%, further growth forecast

AFP

13:05, May 12, 2021

File photo: AP

Toyota said Wednesday that its full-year net profit jumped 10.3 percent despite the pandemic and issued a robust forecast even as the semiconductor shortage plaguing the auto industry continues to bite.

The company generated 2.25 trillion yen ($20.6 billion) in the fiscal year to March, up from 2.04 trillion yen the year before, beating its own annual forecast.

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