Toyota Manager: Yen and Firmest Level

toyota manager: Toyota Motor Corp. reported its best quarter in four years last week but cut its full-year outlook on the yen, according to The Japan Times. We're going to be affected by a stronger yen this year, so to offset this as much as possible we have been taking extra measures to reduce fixed costs and cut down on expenses, Kenta Kon, a Toyota manager, told a briefing last week. Worsening trade friction between the world's two largest economies has reduced investor appetite for risk and boosted assets perceived to be safer bets, such as gold and the yen. ; Japan's currency is now near its firmest level in eight months against the dollar, and exporters in the world's third-largest economy are preparing for pain. Exporters regularly hedge against currency fluctuations, but a strengthening yen still hurts them because it makes their electronic appliances, semiconductors and cars more expensive overseas. The economy expanded at an annualized 1.8 percent in the second quarter, data showed Friday, beating expectations of a 0.4 percent increase. It also decreases the value of overseas earnings when they are brought home. (news.financializer.com). As reported in the news.