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Projected forex rates impact Japan exporters' share prices

TOKYO -- A strong correlation can be seen between Japanese exporters' assumed yen-dollar rates for the current fiscal year and the degree to which their stock prices have fallen. 

A comparison of closing prices on April 22 -- before the earnings season for companies that close their books in March went into full swing -- and Thursday shows that stock prices declined more sharply at companies that assumed a cheaper yen. Investors are becoming increasingly selective now that upward pressure on the yen is intensifying due to the Bank of Japan's decision to put off additional easing, among other reasons.

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