Czarivey,
Please review the following:
1. ZYX pays its production costs in yen.
2. ZYX sells to one US distributor, who pays in yen or dollars depending on their agreement.
3. The distributor's US customers pay in dollars.
4. As only one currency exchange occurs (dollars-to-yen), this is the only currency exchange rate that affects the final price to a US customer.
In your view, which of the above is incorrect and why?
Regards,
Doug