TOKYO — The world's third-largest automaker, Toyota Motor Corp., reports its group net profits tumbled 22% in the recent fiscal year ended March 31 to US$2.87 billion, compared with the previous year's record profit of US$3.5 billion. The profit drop is the first for Toyota in five years. The figures are based on last year's average rate of ¥128:US$1. Strong sales in the U.S. and Europe were unable to offset a declining domestic market and the recession in Asia. Despite this, Toyota ...
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