Operating profit rose to a record 204.9bn yen from 188.4bn yen the previous year.
The dollar plummeted against the Japanese yen after the AP's tweet, dropping as low as 98.58 yen from 99.27 yen before the tweet.
WSJ: False Associated Press Twitter Message Sparks Stock-Market Selloff
The yen was under pressure in Asia this week with the U.S. dollar strengthening to 96.7 Japanese yen, the highest level since August 2009.
It was trading close to 98.97 yen against the US dollar in Asian trade, down from the near 98 yen level before the holidays.
The Japanese currency fell nearly 2% to 94.25 yen against the US dollar and to 126.4 yen versus the euro in early Asian trade on Tuesday.
Lately, many have been fixated on the recent weakness in the yen, as the dollar-yen rate has recently risen from around 75.5 yen to the dollar to 93.5.
Investment has picked up despite the strengthening of the yen over the past several years, but capital expenditure is unlikely to be maintained unless the yen begins to weaken.
Symbolically, it has also stopped mopping up the yen that it creates when it intervenes in the foreign-exchange markets, as it has repeatedly done to stop the yen rising against the dollar.
The strong yen and the European financial crisis are related because as investors dump the euro, they look for what they feel are safe haven currencies like the Japanese yen and the Swiss franc.
Taken from data on the X-rates website, monthly average Yen to US Dollar exchange rates have been increasing from 77 Yen to the Dollar in January 2012 to nearly 93 Yen to the Dollar as of today.
Instead, anticipation by the markets of Mr Abe's elections, and the resulting flood of newly-created yen from the central bank's change of attitude, has seen the yen fall steadily in recent months from all-time highs against the dollar and other major currencies, helping provide some relief to the country's beleaguered exporters.
Rather than trying to make the yen weak, Japan should set a ceiling on the yen as Switzerland does on the franc.
FORBES: For Japan To Emerge From Its Malaise, It Must Place A Ceiling On The Yen
The continued strengthening of the yen makes the revenue earned from Japanese companies' U.S. subsidiaries worth less when the repatriated revenues are converted from dollars into yen.
That the yen seems near a cyclical low against the dollar (if and when the yen recovers from its present level of 96 to the dollar, dividend income for U.S. investors will automatically increase in dollar terms).
FORBES: The Next Bull Market May Be Where You Least Expect It
That might become a 20% return to U.S. investors if the yen rises vs. the dollar or just, say, 4% if the yen falls.
WSJ: Are Global Funds a Better Way to Get World-wide Stock Exposure?
The firm said it expected its profits to rise to 50bn yen in the current financial year, with the yen forecast to remain weak.
To offset this, the Bank of Japan would have to print vast amounts of yen in the hope of refloating the economy on a pool of liquidity while allowing the yen itself to sink.
The ProShares Ultra Yen (NYSE: YCL) and the ProShares UltraShort Yen (NYSE: YCS) are two ETFs for investors to consider, depending on which direction they think the yen is headed.
FORBES: How to Trade Weak Yen and Japan's Improved Manufacturing Outlook
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.
According to the textbooks, an increase in the supply of yen relative to the supply of dollars should reduce the price of the yen.
ECONOMIST: It is time for the yen to climb and the dollar to fall
To put a ceiling on the yen, say at 90 yen per dollar, the Ministry of Finance or the Bank of Japan would pledge unlimited yen selling as Switzerland pledged with the franc.
FORBES: For Japan To Emerge From Its Malaise, It Must Place A Ceiling On The Yen
The yen also has improved, moving from 134 yen to the dollar then to 124 now.
The dollar jumped 7% against the yen in the days following the BOJ's announcement.
Note, by contrast, the big drops of the yen and the Aussie and Kiwi dollars.
And the dollar has been weakening against both the yen and the euro in recent weeks.
The BOJ could undertake intervention and might even try to intervene in the yen against the euro.
FORBES: Analysts: Euro Seen Holding Ground Or Edging Higher Against Dollar In Fourth Quarter
The dollar reached a four-year high against the yen as the Bank of Japan left its asset-purchase program unchanged.
The focus for the yen was the Bank of Japan's upcoming policy meeting, scheduled to take place next week.
The Yen is the currency acting as the canary in the coal mine.
Patterson has lost a little faith in the yen since the intervention, though.
应用推荐