Toyota to cut H2 dollar/yen rate to 80 yen

Gasgoo From Reuters

Toyota Motor Corp (7203.T) will lower its dollar/yen rate assumption by 10 yen to 80 yen for the second half of its business year to next March, which will cut its operating profit for the period by 150 billion yen ($1.84 billion), the Yomiuri newspaper said on Monday.

A stronger yen makes exports from Japan less competitive, while reducing companies' earnings when repatriated.

A Toyota spokeswoman declined to comment on the report.

The dollar was trading around 81.30 yen on Monday morning.

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