Japanese auto giant Toyota Tuesday reported an annual profit of 2.2 billion dollars (209.4 billion yen) in the fiscal year ended March, marking a turnaround from a loss of 4.4 billion dollars last year.
Toyota surges back into black
The automaker returned to the black despite pulling nearly 10 million vehicles worldwide as it faces a host of lawsuits over issues of "unintended acceleration" that have been blamed for 58 deaths in the United States.
While global sales were down 7.7% in the year, the automaker said it expects net profit to rise 48% to 3.3 billion dollars in the year to March 2011.
Toyota last year sank into the red for the first time ever, as car sales collapsed due to the global downturn.