Some manufacturing companies still look good, especially if the yen stays at 120 or weakens a bit.

CNN: MONEY & INVESTING

For those who want to profit from a weaker yen, now is a good time to invest in currency options.

FORBES: Sell yen, buy dollars

As many exporters have already adjusted to the strong yen, and are now making good profits, depreciation could translate into sharply higher stock prices.

FORBES: Is Smart Money Betting on a Weaker Yen?

While the yen's plummet should be good news for Japan's exporters, some say it may be too soon for the results to show up in corporate earnings.

WSJ: Asia's Export Face-Off

The U.S. dollar had a good day today to close over the 100-yen mark for the first time in four years.

FORBES: The Dollar Is Flying High -- But How Long Will The Rally Last?

The Tokyo analyst expects the Nikkei to rise 30% by mid-1998, though a stronger yen may put a damper on the good news.

CNN: A PUNTER'S SURVIVAL GUIDE

The carry trade out of Japanese yen for other, higher-interest currencies began to unwind, and the yen gained and the Kiwi dollar came down good.

FORBES: Mispriced

"The Japanese yen is expensive now, so that is not good for exporting, but the brands are trying everything they can to make it better, " said Imajo.

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That the yen has stayed strong against the U.S. dollars has certainly been good for dollar based investors in Japanese stocks.

FORBES: Is Smart Money Betting on a Weaker Yen?

In these circumstances a stronger yen and weaker bond market may be less bad news than a response to good news.

ECONOMIST: The yen