Toyota, Honda and Nissan benefited from a historically weak yen in their latest quarterly results, with Toyota and Honda upgrading their full-year forecasts and Nissan recording its first profit in about two years. However, the Japanese Ministry of Finance and the U.S. Treasury jointly intervened in early August to buy yen, raising fears of a currency appreciation that would make exported Japanese vehicles more expensive. In addition, the Middle East conflict threatens supplies of critical raw materials such as aluminum and naphtha, with prices surging and pressuring automaker profitability.
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