Auto stocks, including Toyota Motor, fell as the yen appreciated rapidly. Toyota fell to ¥3,025 in morning trading, raising concerns about the impact on earnings at automakers with high overseas sales ratios.
Auto stocks fell across the board, with Toyota Motor trading at ¥3,025 as of 9:35 a.m., down 2.3% from the previous day. Honda Motor, Nissan Motor, SUBARU, Mazda and Suzuki also declined.
Among the sector indexes on the Tokyo Stock Exchange, auto-related stocks posted the steepest decline, as the rapid appreciation of the yen created headwinds. The yen strengthened against the dollar to the ¥153.50 level around the opening of the Tokyo market.
Toyota has released its consolidated earnings forecast for the fiscal year ending March 2027, projecting operating revenue of ¥54 trillion and net income of ¥3.25 trillion. Its exchange-rate assumptions are ¥160 to the dollar and ¥181 to the euro.
Concerns are mounting about the impact on auto stocks with high overseas sales ratios, and the prevailing view is that earnings outlooks could be affected depending on currency movements.