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Race for new technology dents Toyota's earnings

Automaker forced to invest despite flagging sales in China and US markets

The e-Palette concept car unveiled by Toyota Motor last year. The automaker envisions offering the fully autonomous vehicle as a delivery and ride-sharing platform. (Photo by Masaaki Kudo)

NAGOYA -- Toyota Motor's earnings took a hit last quarter due to the growing costs of developing connected and self-driving vehicles as Japan's largest automaker grapples with a fast-changing environment.

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