A strong yen sucks. Well, maybe not for you, but for me and Sony, it’s pretty sucky. A stronger yen slices into Sony’s profits as for every one yen that rises against the dollar, the company loses about $US 59 million. Gah! Sony President Ryoji Chubachi says:
As to the situation of the U.S. dollar’s weakness in the medium to long term, we already have a strategy to deal with it… We will lower our production costs as possible as we can and we will choose production sites to cope with the industry’s weakness, and in the short term, we will try to accept more orders.
Good for Sony! Meanwhile, my strategy for dealing with the weakening dollar involves lots of cringing and crying. Good for me!
Sony To Cut Costs [Forbes]
Zanken
Friday, April 4, 2008 at 10:32 PMI only read this post because I love that image. I can’t look at it without giggling fiendishly.
In other news, economics are absurd.