Meanwhile, auto exporters such as Mazda Motor (TSE:7261) and Fuji Heavy Industries (TSE:7270) performed poorly as the wave of yen weakness grinded to a halt. Fundamentals remain relatively solid for these businesses, but we believe further downside for the yen is limited going forward, and hence we have trimmed our position in these names.
From Matthews Japan Fund (Trades, Portfolio) Q1 2015 Commentary.
