Toyota Motor president Fujio Cho thinks the yen’s levels against the dollar are too strong and are affecting profits.
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“The yen is too strong now,” he said at a lecture in Tokyo, according to Reuters.
Cho reportedly said that the strong yen – about 106 to the US dollar – was adversely affecting profits and added that between 110 and 120 yen would be better.
Reuters noted that Toyota has assumed a dollar rate of 105 yen for the second half of its business year and is expected to report record profits for the full year to March on strong growth in global sales.
