Japan Inc Profits Boom Masks Fading Export Gains From Yen

Soaring profits among Japanese manufacturers are masking weakness in exports as the yen’s slide against the dollar fails to deliver the boost seen after previous bouts of currency depreciation.

Export volumes fell 1.5 percent in 2013 from the previous year, Finance Ministry data show, even following a 12 percent decline in the yen against the dollar during 2012. That contrasts with a 7.8 percent surge in 2006 after a similar currency move.