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Toyota 1Q profit falls on US weakness, strong yen (AP)

In this July 27, 2008 file photo, unsold 4Runners sit at a Toyota dealership in the southeast Denver suburb of Centennial, Colo. Toyota's fiscal first-quarter profit plunged 28 percent from the previous year as slipping North American sales, a strong yen and rising material costs dented the earnings of the Japanese automaker. Toyota reported Thursday, Aug. 7, 2008, that its April-June profit fell to 353.66 billion yen (US$3.23 billion) from nearly 492 billion the same period the previous year. Quarterly sales edged down 4.7 percent to 6.215 trillion yen (US$56.8 billion). (AP Photo/David Zalubowski, File)AP - Toyota said Thursday that its fiscal first-quarter profit plummeted 28 percent, and the automaker stuck to its forecast that full-year profit will fall for the first time in seven years as it faces more problems from the weakening U.S. market.

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