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Toyota Profit Takes Hit From Supply-Chain Troubles, Higher Costs

Toyota Motor Corp. TM -0.32%▼ on Thursday maintained its full-year outlook for production and operating profit, despite rising raw-material costs and production cuts that weighed on earnings in the first three months of its fiscal year.

The world’s largest car maker by sales said it was confident it could produce 9.7 million vehicles in the year ending March 31, although it missed production targets in the April-June quarter. Toyota said it expected production to speed up in the second half of the fiscal year.

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