Toyota reports record profits

Toyota has reported record profits for the April-June quarter.

Officials said the Japanese auto giant earned almost seven-billion dollars in operating profit.

That’s up more than four percent from the same period last year.

Toyota’s net profit for the quarter came in at almost six billion dollars.

Both figures account for Toyota’s best quarter ever.

Demand was down in Japan in the wake of a tax hike.

But robust sales in Europe and North America coupled with a boost from the weak yen helped Toyota post record profits.

Japan’s big five car makers all had their best first fiscal quarter ever.