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Every ¥1 gain against the dollar results in about a ¥40bn plunge in profits at Toyota.
The yen's 3.7percentt gain against the dollar this month could further depress sales overseas.
Other European currencies, including sterling, are also forecast to gain against the dollar.
Pound made biggest one-day gain against euro for two years.
If we place this gain against losses to overpayments, the net loss falls to £1.3bn, less than 1% of expenditure.
The yen and the pound are also tipped to gain against the dollar, but to fall against the euro.
As for the cash portion, we favor U.S. dollars, which should gain against most currencies by year end.
All three companies cut the prices in May, with Nintendo and Microsoft seeking to gain against PlayStation 2, the top-selling machine.
The yen posted its biggest gain against the dollar in a month amid optimism that the Japanese economy is recovering from recession.
President Bush gave renewed assurances today that the United States had not deserted its strong-dollar policy, prompting expectations that the dollar may soon gain against the euro.
Meanwhile, the Greek worries bolster another consensus bet: that the dollar will gain against the euro.Greece is not the only political problem.
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