Editor’s note: An earlier version of this story had an incorrect dollar conversion for net income. This version of the story also has been revised with retail sales figures instead of the wholesale figures used in earlier versions.
TOKYO -- Toyota Motor Corp.’s settlement with the U.S. government over unintended-acceleration claims contributed to a 5 percent decline in net income during the January-March quarter, but that didn't stop the world’s largest automaker from achieving record full-year profits.
Toyota reported net income of 297 billion yen ($2.89 billion) in the company’s fiscal fourth quarter ended March 31, compared with 313.9 billion yen ($3.05 billion) a year earlier.
Global revenue grew 13 percent to $63.9 billion in the three months, as vehicle retail sales increased 6 percent to 2.58 million units, the company said today.
