Toyota profits increase fourfold

Toyota profits more than quadrupled to 121bn yen (€1.16bn) in the January to March period compared with the previous year, capping a hardship-filled year as it was battered by the tsunami in Japan.

Profit for the fiscal year ending in March plunged 30% to 283.6bn yen (€2.72bn), down from 408bn yen (£3.1 billion) the previous fiscal year, as last year’s tsunami damaged supply chains in north-eastern Japan and hobbled Toyota production around the world.