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Yen falls on Japan Inc.'s reluctance to repatriate profits

TOKYO -- A main factor in the yen's continued decline against the dollar and other currencies is a growing reluctance among Japanese businesses to repatriate overseas profits.

With many exporters now eager to use their foreign currency earnings to expand overseas, yen buying has become less prominent during Tokyo trading hours from 9 a.m. to 5 p.m. Yen selling outpaced purchases for a third straight year in 2023, sending the currency lower, and the trend is continuing this year.