Japan is a very export dependent country. That is why my jaw dropped when I read that its exports fell by 46% in January on a year-over-year basis.
The biggest drop was in autos, which plunged by 69%. Don’t expect any good profit news from Honda (HMC: 35.69 -0.28%) and Toyota (TM: 78.81 -0.62%) any time soon.
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