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Weaker Yen May Enable Toyota to Upgrade Operating Profit Outlook
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Toyota is scheduled to report April-June quarter results Thursday, with the focus on whether the carmaker will revise upward its profit forecast for the fiscal year through March.
The yen has been trading above 130 to the dollar since early June, which boosts the value of Toyota’s overseas sales when reported in its home currency. That will probably help Toyota, the worlds largest automaker, make up for any lost production due to semiconductor shortages, higher raw material costs and disruptions in China.