In this July 31, 2019, file photo, Honda cars are displayed at the automaker's headquarters in Tokyo. (AP/Koji Sasahara/File)
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Toyota reported a nearly 4% increase in fiscal first quarter profit on improved sales, while rival Honda reported a 29% decline in fiscal first quarter profit.Toyota Motor Corp.'s April-June profit totaled 682.9 billion yen ($6.4 billion), up from 657.3 billion yen the same period last year. Quarterly sales rose 3.8% to 7.65 trillion yen ($71 billion).Toyota, based in the central Japanese city called Toyota, lowered its profit forecast for the fiscal year through March 2020 to 2.15 trillion yen ($20 billion), down from its earlier forecast for 2.25 trillion yen ($21 billion) profit.Toyota expects to sell more than 10 million vehicles for the fiscal year, ranking it among the world's top automakers in global vehicle sales, along with Volkswagen AG.
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