On September 8th, the dollar moved from around 160 yen to 153 in a matter of days. Toyota and Honda lost a currency tailwind they had been quietly leaning on. The Nikkei dropped 1,130 points the same day, as investors scrambled to reprice earnings that had never been as strong as they looked.
This keeps happening. And executives keep being surprised by it…
My books:
Disrupt or Be Disrupted (Amazon Japan) https://www.amazon.co.jp/dp/B0GXNM9194
Strategy on Your Own Terms (Amazon Japan) https://www.amazon.co.jp/Strategy-Your-Own-Terms-resilient/dp/B0GVB89FVK