Toyota returns to profit in latest quarter, AS

Thu, Nov 5 06:37 AM

TOKYO (AP) Toyota says it has returned to a profit in the latest quarter after government incentives boosted sales for the world's top automaker. Toyota Motor Corp.

reported Thursday net income of 21.8 billion yen, or about $242 million, for the July-September period. That marked an 84 percent plunge from the 139.8 billion profit racked up during the same period a year ago.

But the latest results underline a gradual recovery for Toyota. Thursday's results were the latest in a series of recoveries seen at Japanese automakers, including Honda Motor Co.

and Nissan Motor Co., which have both reported healthier earnings after a battering from the global economic crisis.

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