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Toyota raises full-year profit forecast on exchange rate gains

Earnings downgrade in all but name mirrors auto giant's push for cost cuts

Toyota RAV4 cars at a dealership in Palo Alto, California: Sport utility vehicles are selling well in the U.S., China and Japan.   © AP

TOKYO -- Toyota Motor on Thursday raised its full-year net profit forecast through March 2022, expecting the impact of recent production cuts to dissipate, along with chip shortages.

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