Japan's export dependency has increased due to the weakening yen
Nippon Conlux, a developer of coin mechanisms for vending machines, fell 21 yen
to 685 yen
Market nervousness about the risks of a further round of currency depreciation in Asia increased after certain Chinese officials voiced dissatisfaction with the effect of yen
depreciation on Chinese trade and economic conditions.
A lot of speculation in Treasury securities has been financed by borrowing yen
at an interest rate of about one-half of a percent.
Using a sharing formula, the price decrease would be 668,421 yen
for a net price of 10.
Despite the large appreciation of the yen
in the late 1980s, the Japanese trade surplus declined only modestly, and then primarily because of the investment and consumption boom, which led to a rapid increase in imports.
Nippon Steel expects to post net and pretax profits of 200 billion yen
and 340 billion yen
in the current business year, up from the previous projections of 190 billion yen
and 320 billion yen
's strength against the dollar will hurt manufacturing-sector profits, especially if the yen
stays above [yen
]100 to the dollar for an extended period, as roughly half of Japan's exports are denominated in dollars.
The dollar began the quarter by continuing its upward movement against the yen
, supported by expectations for further monetary tightening in the United States and steady monetary policy in Japan.
but still was more than 35 percent above its April record low.
For instance, if you hedge your yen
receivable at 100 yen
per dollar with a forward contract, you'll get $1 for every 100 yen
you deliver to the bank in, say, six months.
The 221-page report is available, in Japanese for 99,000 yen
($853) and 109,000 yen
($915) with a supplemental CD-ROM.