I think you got it. He's saying that it was due to the strong yen, but not because Japanese firms stopped selling electronic parts. They ate the cost and kept selling. (It wasn't due to lower...
I think you got it. He's saying that it was due to the strong yen, but not because Japanese firms stopped selling electronic parts. They ate the cost and kept selling. (It wasn't due to lower "export volumes".)
Instead, it's because they stopped investing in new technology. (In part because their stock prices went down.) This was due to the strong yen, but it's a more indirect effect. It's hard to justify more investment when profits are down or you're losing money.
I think you got it. He's saying that it was due to the strong yen, but not because Japanese firms stopped selling electronic parts. They ate the cost and kept selling. (It wasn't due to lower "export volumes".)
Instead, it's because they stopped investing in new technology. (In part because their stock prices went down.) This was due to the strong yen, but it's a more indirect effect. It's hard to justify more investment when profits are down or you're losing money.