Toyota president Fujio Cho on Tuesday said the yen currently appears “a bit too strong” against the dollar, according to Dow Jones.
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But he reportedly said he hopes Toyota will be able to boost its earnings despite the strengthening Japanese currency. Gains in the yen usually hurt the earnings of major exporters like Toyota, the report noted.
Dow Jones said Cho’s comments came after the dollar dropped to a new three-year low of Y106.07 overnight in New York.
