The yen is finally strengthening. That could be bad for corporate Japan's record profits
Briefly

Japanese stock prices have had a boost from a weaker yen in recent years. If that boost is gone, the earnings picture will look less grand, said Tadao Kimura, chief fund manager at Sumitomo Mitsui DS Asset Management Co. This highlights the direct correlation between currency fluctuation and company profit, indicating that the recent rebound could negatively impact the financial performance of many Japanese firms heavily reliant on overseas revenue.
Debate is raging about whether a $1.1 trillion meltdown means the best days for the market are over. With major brokerages like JPMorgan and UBS adjusting their price targets, investor sentiment reflects amplified concerns about sustainability amidst changing economic conditions, particularly given ongoing risk factors such as slowing growth in the U.S. and China, which are pivotal markets for Japanese exports.
Read at Fortune Asia
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