Toyota Motor Corp. on Wednesday said its group net profit fell 14.0 pct in the year ended in March from the previous year to 2,451.3 billion yen ($18 billion), the first drop in four years, mainly due to surging materials prices.
The Japanese automaker's sales jumped 18.4 pct to 37,154.2 billion yen ($275 billion), hitting a record high for the second consecutive year, thanks to a weak yen and rising vehicle sales.
Its operating profit came to 2,725 billion yen ($20 billion), down 9.0 pct.
Toyota's global vehicle sales, including those at subsidiaries Daihatsu Motor Co. and Hino Motors Ltd., rose 1.7 pct to 10.55 million units, reflecting a recovery in auto production as semiconductor shortages eased.
Robust demand, mainly in Southeast Asia, also contributed to the rise in vehicle sales, Nippon reports.
