Re:TM - Toyota Motors - 2007/08/22 16:00
I don't know how Toyota accounts for this through their ADR, but typically, the money made in the United States would need to be converted back to Yen in order for the parent company to close the books. The cars produced here in the US would be produced under the Toyota USA division, yet, as with any division that is internationally based, at some point the money needs to be put back into the parent company's coffers.
Toyota may hedge their currency exposure, so that may be an area of focus for future research. For now I think the Yen is going to stabilize at these levels so I am not concerned with that aspect.
If we are looking to compare GM and TM together, we would have to take their United States division and compare them that way to see what differences exist.
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