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Toyota to treble profit this year as sales accelerate

Toyota Motor Corp, Japan’s top automaker, expects to treble its operating profit this year to more than USD12.5 billion, its highest since the financial crisis sent the global car industry skidding.

Operating profit jumped more than five-fold in January-March to JPY238.5 billion (USD2.99b), beating a consensus estimate of JPY223b, as vehicle production recovers from disruptions caused by last year’s natural disasters.

Fourth-quarter net profit jumped to JPY121b from JPY25.4b a year ago.