A strengthening yen is no barrier to Japan's exporters

With Japanese companies releasing their earnings for the first half of the 2003 financial year, a number of exporters in Japan have revised down their US dollar/yen budget rates to around ¥110 to the US dollar from around ¥120 for the H2 of the financial year -- from October 2003 to March 2004. But despite this readjustment, it seems most exporters do not anticipate a significant negative impact from the stronger yen.

JP Morgan in Tokyo looked at 14 major Japanese exporters' earnings reports

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