From Fitch today:
- The accelerated depreciation of the yen in 2H14 is a significant and positive factor for the profitability of Japan’s large automakers
- The falling yen has enabled the “Big 3″ to maintain or raise group profit guidance despite the weaker-than-expected outlook in several key emerging markets and Japan
- Should the yen remain at or weaker than JPY115/USD for FY16, the positive impact on profitability would be pronounced, particularly for Toyota
Report via Reuters … and more here
