Weak yen gives Japan's automakers familiar, though temporary, relief
Automakers' shares are quick to react to swings in the yen, although the companies themselves tend to stick to conservative forecasts for the currency.
On Wednesday, a Honda official said its April-June operating profit came in tens of billions of yen higher than expected, with the weak yen accounting for about half of that. Nissan's China sales to retail customers slumped 46% during the quarter and those of Honda were down 5%.luxury brand, rose over the period. For the first half of the calendar year, they declined almost 3%.
It is unclear how long the weak yen will last. Japan's central bank recently tweaked its cap on bond yields, sparking expectations it could eventually exit the ultra-loose policy that has weighed on the currency.
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