The yen hasn't just fallen; it's crashed. The dollar soared as high as 99.66 — that four-year high was scored Tuesday — after sinking as low as 76.18 on Oct. 27. Put the other way, the yen has dropped to 1.0034 from 1.31 cents, losing 23.4% of its value.
As the yen cheapens, Toyota's foreign earnings are worth that much more. That's a welcome relief for any Japanese company that earns 60% of its sales abroad.