Top Japan carmakers' profits seen retreating in Q1

Newswire

By Chang-Ran Kim TOKYO, July 25 (Reuters) - Profits at Japan's top two automakers likely took a step back in the first quarter mainly due to a weaker dollar, but analysts said their fundamentals remain solid despite a shrinking global car market. For the April-June term, analysts on average expect group operating profits at Toyota Motor Corp and Honda Motor Co to fall by 19 percent and eight percent respectively, as the dollar lost around eight yen, offsetting a jump in the euro-yen ...

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