| 21. | Bear Stearns'earnings reflect rising, and often record, profits earned on Wall Street this year.
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| 22. | It also boosts companies'profits earned overseas when converted to yen.
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| 23. | A stronger yen eats into the value of profits earned overseas by Japanese exporters.
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| 24. | A higher dollar benefits Japan's exporters, increasing the yen value of profits earned overseas.
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| 25. | The rising guilder means profit earned abroad translates to lower profit in guilder accounts.
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| 26. | The new system would apply to profits earned in future years only, not retroactively.
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| 27. | A higher dollar increases the yen value of profits earned overseas by Japanese exporters.
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| 28. | Stronger sterling cuts income from exports and profit earned abroad.
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| 29. | When the dollar gains they get more yen for value of profits earned abroad.
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| 30. | Net margin is the percentage of after-tax profit earned on each $ 1 sale.
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