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Last Updated: Tuesday, 5 August, 2003, 06:23 GMT 07:23 UK
Weak dollar hits Toyota profits
Toyota car being made
The Japanese car firm Toyota has said that the weak dollar has undermined its profits.

Toyota made a net profit of 222.6bn yen ($1.85bn; �1.15bn) in April, May and June, almost 10% less than the previous three months.

The Japanese car maker depends heavily on exports to the US, where consumer confidence has been knocked by the faltering economy.

The steady decline in the value of the dollar has also dented the competitiveness of imported cars from Japan.

The dollar fell by 8% against the yen during the three month period.

Despite the fall in profits, Toyota is still one of the healthiest carmakers in the world and the most profitable company in Japan.


SEE ALSO:
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