Nov 7, 2017
Toyota sees profits rise again
Japan's Toyota has reversed an earlier forecast of lower annual profits. Toyota is now assuming an exchange rate of 111 yen to the dollar, instead of 105 yen previously. The car giant's revision came with the release of six-month figures that showed profits up 13.2% at 1.07tn yen. Profits from Toyota's overseas sales fluctuate with the level of the yen against major market currencies. Such a move typically will typically boost a company's share price, as it leaves fewer shares among which to share around the profits.
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