recently reported earnings that topped analyst estimates by 6% to 21% in the three months through June, and all cited the currency as a factor.
"They are struggling in the Chinese market," he said. "They just don't have an immediate solution" for their problems there, he added. For instance, Toyota has stuck to its forecast for an average exchange rate of 125 to the dollar this business year, a level not seen since April 2022, about a month after the U.S. Federal Reserve started raising interest rates. The yen was at 144 on Thursday., a move of one yen against the dollar has a 20 billion yen impact on operating profit, CFO Katsuyuki Mizuma said earlier this month.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: