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Toyota posts record full-year net profit; forecasts cautious
Toyota on Wednesday posted a record full-year net profit helped by strong sales and a cheaper yen, but issued cautious forecasts as the pandemic and the war in Ukraine disrupt supply chains. The Japanese auto giant, which kept its crown as the world’s top-selling carmaker in 2021, reported a net profit of ¥2.85tn ($22bn), up 26.9% from the previous year. But for the current year to March 2023, it said it expects to post an annual net profit of ¥2.26tn ($17.3bn), citing ongoing uncertainties. Toyota said its robust results were due in part to beneficial foreign exchange rates, with a cheaper yen helping inflate profits from sales abroad. It also cited cost reduction efforts and stronger sale

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