Toyota looks set to be hit the hardest among Japanese exporters
By Andrew C., 26 Aug, 2010. 0 Comments
2010 Toyota Land Cruiser
The dollar is losing against the yen but while Japanese exporters have been reeling against its effects, Toyota Motor Corp. appears to have been hit the hardest. For the October-March period (the company's second half in its fiscal period), Toyota has assumed an average dollar rate of 90 yen compared with 85 yen at Honda Motor and Nissan Motor. Last Thursday, the dollar sank to a 14-year low of 86.29 yen. Despite this trend, the Japanese authorities have given no reassurances to exporters and have proclaimed repeatedly that they will not intervene to prop up the dollar. Aizawa Securities auto analyst Toshiro Yoshinaga said that the carmakers have set cautious forex assumptions this year and so the current rates are roughly within expectations. He asserted that there are expectations for the dollar to sink further in 2010 up to the 70s in yen. He believes that since Honda and Nissan are relatively strong in emerging markets, they would come out winners in this ordeal. [via reuters]
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