Earthquake, the Group of Seven (G7) of the combined intervention did not prevent the yen rising long-term trend. While the dollar against the yen since May 5 record low of 79.56 to rebound, but the JP Morgan report that the U.S. dollar against the yen exchange rate will peak again during the year. Japan, in March released the latest trade data also showed Japan's trade surplus plunged 77.9%, to shrink the first time in 16 months. According to sources, in response to the appreciation of the automobile industry, Japanese companies represented a substantial reduction in local procurement has begun to increase production in China, supporting parts. Experts predict that the next few months, the Japanese earthquake will be more apparent, there does not rule out the monthly trade deficit, while trade deficit with China and Japan could further be reduced.

    Increased appreciation of the yen decline in exports

    Kyodo News Agency reported that Japan's Finance Ministry on May 12 announced in March a preliminary balance of payments data show, reflecting Japan and overseas goods, services and investment trade surplus for the current state of 1.6791 trillion yen, compared with a year earlier 34.3% reduction. March imports rose 16.6% to 5.3964 trillion yen, while exports decreased by 1.4% to 5.6367 trillion yen.

    Affected by the earthquake, the Japanese automobile and electronics exports dropped significantly, the trade surplus dropped to 240.3 billion yen, decreased by 77.9%, which is nearly 16 months for the first time since the rate of shrinking trade surplus.

    Previously reported in early April the initial value of trade surplus is reduced further show the trend in Japan. According to the news of the Japanese Finance Ministry, Japan in early April appeared deficit of 168.9 billion yen.

    Japan Economic Research Institute of China Academy of Social Sciences Zhang, director of the monsoon is expected, in accordance with this trend, Japan's April trade deficit will occur. The impact of the earthquake has just appeared, if the production activities can not be restored as soon as possible, the trade deficit will probably continue for some time. He believed that the earthquake caused the Japanese manufacturers cut production, electronic equipment, parts and components exports dropped, this is short-term factors. The long term, if the yen continued appreciation of the situation, even if the production recovery, Japan's exports will be constrained.

    Last week, JP Morgan issued a Japanese government is very reluctant to see the report. Reported that by the end of March next year, the dollar will fall against the yen to 78. The report notes that because of market fluctuations have become smaller, the Japanese monetary authorities will not conduct foreign exchange intervention. JP Morgan analysts believe that any intervention in foreign exchange market fluctuations in Japan's resolutions will be based, not on a particular exchange rate level is based.

    Japanese companies transfer purchases

    Changes in Japan's trade situation is also directly reflected in the Sino-Japanese bilateral trade. According to Japanese data released in March Japan's export growth 43.5 billion yen, an increase of only 3.7% and imports rose 255.6 billion yen, an increase of 25.0%. Chinese Customs data also show that China's exports to Japan in March to reach 13.14 billion U.S. dollars, up 37.4%, 16.7% higher than the increase in imports. April, China imported 15.98 billion U.S. dollars from Japan, imports were down by 14.9%.

    Sony's sales staff Lai told our reporter, is now basically in the consumption of plant inventory, replenishment very slow progress, the core problem of insufficient supply of spare parts is still very serious.

    Jiang Ruiping Foreign Affairs University said Japan's economic experts, in response to appreciation of the yen, reducing costs, Japanese companies to reduce local purchases, increasing trend of overseas parts production has begun. Earthquake is more a catalyst, forcing more companies began to shift parts of the production.

    The automobile industry, for example, following Toyota, Nissan, the Japanese Mitsubishi Motors in the recently published medium-term business plan (2011 ~ 2013 fiscal year) announced a significant reduction in local parts procurement costs, China and other emerging markets in the world of small car products, in response to yen appreciation. Under the plan, in 2013, Mitsubishi Motors in the overseas production ratio of the market from the current 44% to 54%. Mitsubishi Motors also said it would significantly reduce procurement costs, which reduced the planning period, 90 billion yen, which would be outside of Japan, including procurement of more parts in order to hedge against losses caused by appreciation of the yen.