Stronger Yen Hurts Toyota's Fiscal 3Q, but Weaker Yen Since Since November Eases Pain
We are not changing our Toyota moat rating or fair value estimate following third-quarter results for fiscal 2017, released Feb. 6, that saw significant currency headwinds from the stronger yen against the dollar year over year. However, the yen has weakened since the U.S. presidential election, so Toyota, like Honda last week, increased its fiscal 2017 guidance primarily for currency. For the fiscal third quarter, total company operating income fell 39% and pretax income fell about 25%. Operati...Toyota Motor is an automobile manufacturer. Co. is primarily engaged in the design, manufacture, and sale of sedans, minivans, compact cars, sport-utility vehicles, trucks and related parts and accessories throughout the world. Co. provides financing, vehicle and equipment leasing and certain other financial services primarily to its dealers and their customers to support the sales of vehicles and other products manufactured by Co. Co.'s principal business segments are automotive operations, financial services operations and other operations. Co. sells its vehicles in approximately 190 countries and regions, and markets for its automobiles in Japan, North America, Europe and Asia.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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