The surprise US move to sell euros to support the yen has shaken assumptions about how major currencies are managed and put Japanese exporters back in the spotlight. When central banks act in unexpected ways, pricing of global winners can shift quickly and quietly. This article looks at 3 Japanese stocks exposed to this currency story, explaining how the news may help or hurt their prospects so you can judge whether they deserve a closer look.
The stocks covered below are just a starting sample, and the full screen surfaced 6 more large Japanese exporters with equally compelling narratives that are not included in this article. If you want to identify potential opportunities across the full universe of Japanese exporters, head straight to the Japanese Exporters screener.
Fuji (TSE:6134)
Overview: Fuji Corporation is a Japanese manufacturer of electronic component mounting robots and machine tools, supplying surface mount technology equipment, machine tools and industrial robots used on electronics production lines worldwide. It also offers plasma units, mobility support robots and automated storage systems from its headquarters in Chiryu, Japan.
Operations: Fuji generates most of its revenue from Robotic Solutions at ¥189,004 million, with smaller contributions from Machine Tools at ¥8,426 million and Others at ¥2,677 million.
Market Cap: ¥713.6 billion
Fuji sits squarely in the Japanese exporters story, supplying the robots and SMT equipment that global electronics production depends on. A stronger and more stable yen after the US currency move could matter for how investors view its overseas earnings. The company has recently reported sharp earnings growth with Q1 FY2027 net income of ¥12,622 million and full year FY2026 net income of ¥15,733 million, alongside guidance that points to higher sales and earnings for FY2027. At the same time, the stock trades below one DCF estimate of fair value but at a higher P/E than peers, and shows elevated share price volatility and dividends not fully backed by free cash flow. That mix of rapid growth, exporter exposure and risk is why Fuji deserves a closer look.
Fuji’s rapid earnings story and exporter exposure may be obscuring the real tradeoff between growth, valuation and payout quality. Get the full picture in the 3 key rewards and 2 important warning signs (1 is major!)
Build your own Fuji style exporter shortlist
Fuji and the other two exporters in this article all came from a single screener, but the real edge is setting filters that suit your own process. Use our flexible Screener to mix valuation, growth, balance sheet, risk and dividend criteria, or start with any of our curated Investing Ideas.
Meiko Electronics (TSE:6787)
Overview: Meiko Electronics designs and manufactures a wide range of printed circuit boards and related electronics, supplying PCBs and electronic manufacturing services used in cars, telecoms equipment, industrial and medical devices, amusement systems and home appliances around the world.
Operations: Meiko Electronics generates virtually all of its revenue from its Electronics Related Business segment at ¥240,446 million, with only ¥127 million reported in Others.
Market Cap: ¥610.6 billion
Meiko Electronics gives investors direct exposure to global electronics and automotive demand at a time when currency moves are back in focus. The surprise US decision to support the yen with euro sales matters for a company that reports in yen but sells heavily overseas, since a firmer currency can reshape how investors assess its export earnings and valuation. Reported earnings growth of 33.3% over the past year, alongside forecasts for revenue and profit growth, sit alongside a rich P/E multiple, high leverage, volatile share price and a target price that is only modestly above the current level. Combined with recent dividend increases and index inclusion, this creates a balance between growth potential and financial risk that may warrant closer attention.
Meiko Electronics sits at the crossroads of rapid earnings growth, a rich P/E, and higher leverage, which can make it difficult to see where the real risk-reward balance lies. Get the full story in the 2 key rewards and 3 important warning signs (2 are major!)
Nippon Thompson (TSE:6480)
Overview: Nippon Thompson manufactures IKO branded needle roller bearings, linear motion guides, precision positioning tables, and related machine components used in sectors such as autos, industrial robots, construction machinery, and semiconductor and flat panel display equipment across Japan, North America, Europe, and Asia.
Operations: Nippon Thompson generates most of its revenue from Bearings at ¥56,533 million, with a smaller contribution from Machinery Components at ¥6,497 million.
Market Cap: ¥143.4 billion
Nippon Thompson sits in the heart of global manufacturing supply chains. A firmer yen after the surprise US euro sale could quickly change how investors read its export heavy income statement. Earnings grew very sharply over the past year and the stock trades well below one DCF estimate of fair value, yet the P/E is high, earnings have declined over the past five years and the share price has been highly volatile. With fresh buybacks, higher dividend guidance into FY2027 and a relatively new management team, this is a bearings specialist with strong recent momentum, a funding structure that relies fully on external borrowing, and a profit track record that still raises questions.
Momentum in Nippon Thompson is colliding with a high P/E, volatile trading and a DCF gap that many investors may be glossing over. Get the context that ties this together in the 3 key rewards and 1 important major warning sign
Seeking Alternatives Before Momentum Flies
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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