Weak Yen Gives Hope to Weak Japanese Companies

Will Tokyo's pedestrians shop more? Photograph by Toshifumi Kitamura/AFP via Getty Images

In the new weak-yen Japan, even the frailest companies are enjoying a reprieve. Today’s example is Pioneer, the bedraggled maker of car-navigation systems and audio and video equipment. Back in October, when the Kawasaki-based company reported its half-year numbers, the picture was bleak. Hammered by the rising yen and an ill-fated alliance with money-losing LCD TV maker Sharp, Pioneer said it had lost ¥4.83 billion ($61.6 million) for the six months. The company had estimated a profit of ¥1 billion.

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