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Japanese automakers

Toyota’s profit hasten to 70pc

Tokyo: Toyota has increased its profit by 70 percent, even though its sales have declined. The Tokyo-based maker of cars such as the Prius and the Camry said Wednesday its July-September net profit rose to 438.4 billion yen ($4.4 billion) from 257.9 billion yen a year earlier. Profits at Japanese automakers have surged in yen terms as the Japanese currency weakened against the US dollar over the past year. A year ago, the yen was trading at about 79 to the US dollar. Now it is just under 100 to the dollar. Toyota Motor…