Toyota profit downshifts

(01:24) Report

May 8 - Toyota announced a fall in quarterly net profit, hit by a stronger yen, and forecast its first annual profit drop in seven years.

The world's biggest automaker is trying to counter a slowdown in the U.S, Japan and Western Europe, but the yen's 12% rise against the dollar and soaring commodities prices are offsetting other growth.

Dan Sloan reports.

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