Toyota, Komatsu and other Japan blue chips see $2bn profit gain on weak yen

Exporters and retailers enjoy windfall in second quarter

20230824N Komatsu hybrid excavator

Companies like Komatsu, which has maintained a conservative exchange rate forecast, could see an even greater boost over the full fiscal year. (Photo by Nikkei)

TSUKASA MORIKUNI and KOSUKE OKAMOTO, Nikkei staff writers

TOKYO -- Some of Japan's biggest companies received a roughly 390 billion yen ($2.67 billion) lift to operating profit in the April-June quarter from a weak yen, a Nikkei analysis shows, with export-focused businesses benefiting in particular.

Of 68 Nikkei Stock Average components that disclosed how currency movements affected their quarterly earnings, around 90% reported a boost.

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