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Business trends

Yen surge risks blowing $7bn hole in Japan exporters' profit

Strongest currency in 3-plus years would hit automakers hardest

Canon is among Japanese manufacturers that will suffer a severe blow from a stronger yen. (Photo by Shinya Sawai)

TOKYO -- The yen's surge against the dollar and the euro could cost leading Japanese exporters 750 billion yen ($7.13 billion) in operating profit in fiscal 2020.

This comes on top of the drop in demand for their products caused by the novel coronavirus outbreak.

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