Yes, but JPY has dropped from 135 or so only down to 130. Only three years ago it was at 90! So in 2012 Nikon were getting 90 yen for every Euro of sales they made - over the last three years that has increased 50%, so that they gathered 135 yen for every Euro of sales! No price cut made during that time - just take the cash and watch the market be eaten from underneath (not saying that's wrong). Now the Yen 'strengthens' (some may say rebalance) mildly so Nikon lose some gains, and they immediately raise prices. THAT I will say is wrong in my opinion, their market position (Nikon's, and DSLR in general) is bad enough already without that.