The carmaker says that one yen of appreciation for the Japanese currency translates into a 30 billion yen hit to its bottom line.
This time around, global conditions are weaker and the yen is one of the world's strongest currencies.
The yen rose to 93.69 per dollar, while one euro bought 125.75 yen.
Now the yen is one of the world's weakest currencies, not because Japanese companies lack competitiveness but because of Japan's financial problems.
The dollar came close earlier this month, only to pull back as broader market sentiment turned sour, which pushed investors back into the yen, one of the traditional safe-haven currencies.
The rising Yen is one reason why Korean car manufacturers have done so well in recent years as the quality of their vehicles have quickly caught up to Japanese peers and the currency has often made its exports cheaper on a relative basis to those of Japan.
The yen conundrum is one reason for investors to doubt the rally.
An interest-rate gap is opening between currencies like the dollar and the yen on the one hand, where monetary policy is likely to remain ultra-loose, and higher-yielding ones like the euro on the other.
So far, the yen has been a one-way bet, falling about a third against the weak greenback since the end of September.
Hence not only a strong rise against the yen but a decent one against the euro (a gain of nearly 5 percent since February).
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After falling 2.1% on Monday, the Nikkei Stock Average shed another 1.1% Tuesday to a nearly one-month low, as yen strength during Asian trading hours weighed on exporters' shares.
Moreover, printing yen to buy dollars is one way to inject liquidity into Japan's moribund financial system.
The dollar is up against several major currencies, and has hit a one-month high against the Japanese yen.
If money printing works in the real world why not print and give every one a billion dollars, euros or yen?
The panic we witnessed last summer on the foreign exchange market largely came from the perceived risks associated with a seeming one-way bet on dollar-yen exchange before most Asians de-coupled from the yen.
In addition to weakening by 6 percent against the yuan, the greenback is now 9 percent lower against the euro, and 7 percent lower against the Japanese yen, as compared to one year ago.
Its Japanese securities business plead guilty to one count of wire fraud tied to rigging Yen Libor.
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Maybe from the first quarter of fiscal 2014, one can expect the effect of a weak yen to reflect on the income statement.
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Japan's Nikkei Average bucked the trend, ending at a one-month high, as a weaker yen made its goods more affordable to overseas buyers and boosted the shares in exporters.
One of the reasons is the strength of the yen, which makes products more expensive overseas.
However, as a result of changes in government policies, over the six-month period, gold rose nearly 19 percent in yen, while only increasing less than one percent in U.S. dollar terms.
In hindsight, there is certainly stronger dynamic support for a yen negative move rather than a dollar positive one.
One repercussion of the plan to pump huge amounts of yen into the Japanese economy has been to sharply weaken the currency.
Because of the stalemate in Washington right now, the Japanese yen hit historic four-month high and one of historical high against the dollar.
Over the same period, the yuan has declined by approximately one percent against the euro and 2 percent against the Japanese yen.
One could argue that the seeming anomaly of the relatively strong yen might reflect a seasonal effect: the repatriation of funds by Japanese firms' overseas operations near the end of the financial year.
Hedge funds call this pair-trading, and right now he is keeping a 10% portfolio position with one-half allocated to the UUP, the bullish dollar ETF, and one-fourth to both the EUO and the ProShares UltraShort Yen (YCS).
However, the intervention was a record-large one day move by the BOJ, which reportedly sold 7 trillion yen on the FOREX market.
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But as a weak yen is an economic threat to its regional neighbors, one is left to ponder how much longer other Asian central banks will sit idly by and do nothing.
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