The Japanese company posted an operating profit for the first quarter of last fiscal year of 997.4 billion yen ($7.4 billion).
Toyota raised its net profit forecast for the current fiscal year by 4 percent to 2.4 trillion yen ($18 billion).
The company said that the increase in manufacturing materials during the current fiscal year cost it about 315 billion yen ($2.35 billion), and it expected materials to continue to rise throughout the fiscal year by about 17 percent, especially aluminum and steel materials.
Toyota also kept its current production plan unchanged during the current fiscal year, to remain at 9.7 million vehicles.
And “Toyota” had reduced its monthly production goals 3 times in the period from April to June, with a total of 10 percent from its initial announced goals, due to the shortage of semiconductors and closures related to the Corona epidemic in China.
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