Toyota stock slumps despite weaker yen and record profit

Currency stability key to broader Japan market rebound

20240512N Toyota

The correlation between a softer yen and Toyota's share price has weakened in recent years. © Reuters

YOSHIKAZAU IMAHORI, Nikkei staff writer

TOKYO -- Toyota's share price has slipped about 10% in the past six weeks even as the yen has weakened, running counter to the conventional wisdom that a softer currency helps to buoy Japanese stocks.

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