|Toyota quarterly profit down
Toyota's fourth quarter profit dropped slightly despite higher vehicle sales and a weak yen as it spend more on research and development.
Toyota Motor Corp. reported Thursday a January-March profit of 297 billion yen, down from 313.9 billion yen a year earlier.
Quarterly sales rose 12.5 percent to 6.57 trillion yen.
The world's top automaker said extra costs, including research and development expenses, reduced its profit.
For the fiscal year, Toyota's profit almost doubled to 1.82 trillion yen from 962 billion yen the previous year.
Annual sales jumped 16 percent to 25.69 trillion yen, thanks to growth in the US, Japan and the rest of Asia.
Toyota forecast a 1.78 trillion yen profit for the fiscal year through March 2015. --AFP