Toyota's Fiscal 3Q Receives Major Currency Help
Toyota reported fiscal 2018 third-quarter results that received considerable help from the yen weakening against the dollar year over year to JPY 113 from JPY 109. Management raised guidance on higher equity income from Japan and China and because of currency tailwinds and cost-cutting measures. Total company operating income guidance for fiscal 2018 increased by 10% from prior guidance to JPY 2.2 trillion, based on a full fiscal year exchange rate of JPY 111/dollar compared with JPY 108 in fisc...
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