Japan’s Toyota says profit soared in Jan-March amid pandemic

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TOKYO (AP) — Toyota says its profit more than doubled to 777 billion yen, or $7 billion, in the last quarter as the Japanese automaker’s sales recovered from the pandemic. Toyota Motor Corp. reported Wednesday that its quarterly sales rose 11% from a year earlier to nearly 7.7 trillion yen, or $71 billion. While the coronavirus pandemic has dented sales for many businesses, Toyota has shown resilience, riding out a global shortage of semiconductors that’s slammed many automakers. The company is forecasting a 2.3 trillion yen, or $21 billion, profit and 30 trillion yen, or $276 billion, in sales for the fiscal year through March 2022. 

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