Japanese motor industry giant Toyota saw its profits fall by 21% for the last three months of 2021 as the global chip shortage hit production.

The company said that its third quarter operating profit came in at 784.4bn yen (£5bn; $6.8bn).

The world’s best-selling carmaker also cut its annual production target by 500,000 vehicles to 8.5 million.

It comes as manufacturers around the world are struggling to find enough microprocessors for their products.