NF-Q-02-001-5-en.html
● Level 5 · IntermediateWhy Can a Weaker Yen Lift Japanese Exporters?
The effect differs by company. Check where products are made and sold, and in which currencies costs are paid.
Key items: overseas revenue, production locations, import costs, currency sensitivity and management’s assumed exchange rate.
Even with high overseas sales, the benefit may be smaller if foreign factories and imported inputs also create foreign-currency costs. Results may beat guidance when the actual rate is ¥150 against an assumed ¥140, but the stock may not rise if investors already expected it.
Conclusion: The same wind affects each aircraft differently according to its structure and route.