Toyota quarterly profits drop but recovery expected

Japanese car makers have been struggling with
damage and parts shortages after the 11 March disaster

Toyota Motors' profits plummeted by 77% in the last quarter because of disruption caused by March's earthquake.

Net profits fell to 25.5bn yen (£192.7m $315.5m) between January and March, the company said.
But for the fiscal year ending in March Toyota's income doubled showing that it had been enjoying a recovery before the quake hit.
The Japanese carmaker announced that production will pick up from June.
Toyota had previously said that improvements in output wouldn't begin until July.
Toyota and other auto manufacturers have been dealing with parts shortages because of the damage caused by the earthquake and tsunami that hit Japan on 11 March.
The world's biggest carmaker has curbed production at its factories in Japan and overseas.
On Wednesday President Akio Toyoda said he expects the company's car manufacturing in Japan and abroad to recover to 70% of its capacity before the earthquake, in June.
A full recovery is not expected until late this year.

bbc

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