Dollar: 80.28 yens
Euro: 107.92 yens
Rates continue to improve especially with the euro.
Dollar: 80.28 yens
Euro: 107.92 yens
Rates continue to improve especially with the euro.
Good news KillerMan, I really don't want neither Nintendo nor Sony to go belly-up. I'm sure there those who do though.
Here is that figure by the way
http://www.stockmarkettoday.cc/depreciation-of-the-euro-bring-disaster-to-the-pillar-industries-of-japan.html
6billion yen loss for depreciation of every 1 yen for the Euro.
Since Jan 16, 2012, then euro has improved (or should I say the yen has fallen) 11 yen; That is nearly 12%.
I'm not sure what the number would reflect for dollars though (if there is a difference). A good question would be whether every point of yen per dollar is an additional X billion yen.
As it stands, if it were to be averaged at 9.5, Sony has gained nearly 600m in currency exchange. It's almost certainty that they will be posting profit this upcoming quarter.
I believe they have a quarterly report Q4 coming in about 2 weeks.
There is also this report I found (not Sony)
"Japan’s electronics sector is in a world of pain at the moment. In late February, Elpida Memory (6665:JP), the world’s third-largest maker of PC memory chips, filed for bankruptcy, with $5.6 billion in debt, in the biggest-ever corporate failure for a Japanese manufacturer. Olympus (7733:JP) has been laid low by scandal. Sometime in May, Sony (SNE) is expected to report a fiscal year loss of about $1.1 billion. This is no passing squall for Japan’s flagship industry. Richard Katz, editor-in-chief of The Oriental Economist Report (subscription required), has crunched the numbers on the sector in recent research reports and has come up with some startling statistics that portray a once-world-beating industry in deep trouble. Here are five of those identified by Katz."
So, they are expecting 1.1 billion loss in ?May. This was a forecast detailed at the last quarterly report before the currency situation started to improve. At that time, both Sony and Nintendo had expected the currency to get a bit worse, so if we take the predicted loss, remove it, and then add the improvements instead, Sony should be looking at a pretty good quarter. (And I'm pretty sure it's not going to be in May, but March)
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