The “fear of the yen,” which is to urge the international automotive industry, “composition of one negative” Toyota to protect domestic employment

This time, dealing with the “fear of the yen,” the 52nd column of (automotive industry ed) since.Rainy season and later, no less to cicada flock to moat of the Imperial Palace, “Endakadoruyasu, Endakadoruyasu,” said noisy profusely.Before you get used to that cry, let me explain the term “arbitrage” as soup payment.

If you say or “arbitrage”, because it is Odoroodoroshii representation, the moment you can see, there is something hip is likely to sink.There is a sound of terminology foreign traders full use of financial engineering is used, it’s likely to be said to be “does not matter to me” from the majority of readers.However, speaking of, is the act of everyone is doing if the people who are involved in business, would be surprised.

It is “What is arbitrage, buy cheap in the market in the goods, sell high in other markets it, the process of obtaining a profit from the price difference” and “Mankiw economics I Micro Edition” in 445 pages.Example of buying cheap books in the United States, bookstores in Australia, sold to readers in Australia it has been introduced.In short, such as net income and operating income, which is recorded in the income statement of the company, he represents the result of arbitrage.

However, it is “easier said than done”, to buy cheap fact, sell high, it is difficult.If I talk to foreign traders who wield the pre-eminent in the Tokyo market, such a story, “It is not difficult,” and you’ve laughed it off.

He says, there seems to arbitrage and using regional differences, arbitrage using the time difference.The regional differences, example of the United States and Australia the previous is true.The time difference, buying and selling of foreign currencies such as the euro and the dollar is that it is typical.

For example, the arbitrage using the [Figure 1] a “against the U.S. dollar,” It is because you are using the time difference between today and tomorrow or later.The combined figure of [2] “versus the euro” In addition, I heard that the ruling would you have access to an area difference and time difference.”Futures” is also applied to these of course, It is the world of different dimension to me.

As can be seen by comparing the [Chart 2] and [Figure 1], “Living in the ruling” as a trader, it was a chance to show of arms in 2010.If you look at the Euro yen exchange rate of [Chart 2] In particular, March 11 there was the Great East Japan Earthquake than the (108 yen 30 sen), more August 10 of (105 yen 70 sen), but the appreciation of the yen against the euro was hard.

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