Toyota Cuts Guidance Due to Exchange-Rate Concerns

Toyota Motor (NYSE: TM) delivered solid quarterly numbers on Friday, reporting operating profits of 741.9 billion yen ($6.9 billion), up 8.7% from a year ago.

It was Toyota's highest quarterly operating profit in nearly four years. But concerns about the rising yen led the company to trim its profit forecast for the full fiscal year.

Cost reductions and strong sales of crossovers helped Toyota boost its operating margin in North America. Image source: Toyota Motor Corporation.

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