James Lee
08:50 (BST)
23/04/2008
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Slowing Japan exports to hit Sony and Nintendo?
Japanese exports to the US have fallen by their highest amount in four years while exports to Asia and Europe have slowed, according to figures from Japan's Ministry of Finance.
Data showed that exports to the US fell 11 per cent when compared with March last year, and exports overall only rose 2.3 per cent, the smallest increase in three years, potentially spelling trouble for Japan's export driven economy and big brand names such as Nintendo and Sony.
"An export slowdown would squeeze corporate revenues and keep companies from raising much profit," Takeshi Minami, chief economist at Norinchukin Research Institute, told the Finanical Times.
It is feared that this is all an effect of the US economic slowdown, which saw Nintendo's share price fall last year when the Yen strengthened against the Dollar last year.
"There is always an impact on exports. The yen is volatile...We watch it with some anxiety," said Sir Howard Stringer, chief executive of Sony Corporation, early this year.
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