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Toyota quarterly profit quadruples on recovery

Toyota quarterly profit quadruples on recovery

Toyota is reporting January-March profit more than quadrupled to 121 billion yen ($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 283.6 billion yen ($3.5 billion), down from 408 billion yen 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 760 billion yen ($9.5 billion) for the fiscal year through March 2013.