TOKYO, Aug 14 Reuters Japanese automakers are getting muchneeded cover from an old standby, as the weaker yen helps prop up profits amid declining sales in China and the increasingly tough shift to electric vehicles.

Toyota, Honda and Nissan recently reported earnings that topped analyst estimates by 6 to 21 in the three months through June, and all cited the currency as a factor.

If the yen stays low, they clearly benefit but it doesn39;t offset any other concerns, said Satoru Aoyama, senior director at Fitch Ratings Japan.

They are struggling in the Chinese market, he said. They just don39;t have an immediate solution for their problems there, he added.

Nissan late last month upgraded its fullyear operating profit forecast, raising it by 30 billion yen 208 million to 550 billion yen. About 20 billion yen of that came from the currency, CFO Stephen Ma told a briefing.

A weak yen has traditionally lifted profits for Japan39;s big exporters, although it is no longer as large a boon for automakers that have increased their overseas manufacturing in recent years.

Automakers39; shares are quick to react to swings in the yen, although the companies themselves tend to stick to conservative forecasts for the currency.

For instance, Toyota has stuck to its forecast for an average exchange rate of 125 to the dollar this business year, a level not seen since April 2022, about a month after the U.S. Federal Reserve started raising interest rates. The yen was at 144 on…