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However, during periods of uncertain global economic outlook investors become risk averse and square their carry trade positions to repay their borrowed sum, resultantly this behavior leads to JPY appreciation and 3) US Federal Reserve revised down its GDP growth rate estimate from 2.5 to 2.3 percent for CY19 and forecasted interest rate hikes twice over the same period instead of previous estimate of three times.
9 June 2014 - Tohoku University's Regional Innovative Producer School for entrepreneurs will receive a contribution of JPY 100m (USD 1m ) from US-based Prudential Financial's (NYSE: PRU) The Prudential Foundation nonprofit corporation to support business leaders who can spark the economic recovery of regions affected by the Great East Japan Earthquake and Tsunami that struck in March 2011.
The move in EUR/JPY had caught the intraday market wrong footed as an earlier article in the WSJ had boosted the JPY after the report speculated that some Japanese companies had concerns that the JPY had fallen too fast and was impacting on fuel imports.
However, at an unconsolidated level, and including a loss of JPY 201bn ($1.83bn) relating to losses from North American associate companies, net profit is expected to reach JPY 17bn ($154.8m), a 103% decrease on its previously stated target of JPY 120bn ($1.09bn).
This has brought huge benefits to the company's bottom line, and in the year to March 31, net income was JPY 57.4bn ($493.9m), up from income of JPY 13bn ($111.9m) on revenue that fell 1.7% to 2.78 trillion ($23.9bn).
The largest chunk of Fujitsu's revenue came from the Software and Services operation (41%), where sales grew 3.9% to JPY 436bn ($4.08bn).
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- JQ Adams
- JQ Adams