As of September 30, 2024, Invesco CurrencyShares® Japanese Yen Trust reported total assets of $468.5 million, a significant increase from $312.6 million at the end of 2023. This growth was primarily driven by Japanese Yen deposits, which rose to $455.6 million from $312.6 million over the same period. The value of redeemable capital shares also increased, reaching $468.4 million compared to $312.4 million at the end of the previous fiscal year.

For the three months ending September 30, 2024, the Trust recorded total expenses of $(386,753), up from $(340,442) in the same quarter of 2023. Similarly, for the nine-month period, expenses rose to $(1.2 million) from $(1.1 million) year-over-year. The net comprehensive loss for the third quarter of 2024 was $(386,753), compared to $(340,442) in 2023, while the nine-month loss increased to $(1.2 million) from $(1.1 million) in the prior year. Basic and diluted earnings (loss) per share improved slightly to $(0.06) for the third quarter of 2024, compared to $(0.10) in 2023, and to $(0.21) from $(0.30) for the nine-month period.

The weighted-average shares outstanding increased significantly, with 6.2 million shares for the third quarter of 2024 compared to 3.5 million in 2023. The total number of redeemable capital shares rose to 7.25 million by September 30, 2024, up from 3.5 million a year earlier. This increase included purchases of 3.55 million shares during the nine-month period, contributing $221.2 million to redeemable capital shares, while 1.05 million shares were redeemed, reducing the total by $64.5 million.

The Trust's net cash used in operating activities for the nine months ended September 30, 2024, was $(1.2 million), compared to $(1.1 million) in 2023. However, net cash provided by financing activities surged to $143.8 million from $63.1 million year-over-year, resulting in a net cash increase of $143 million for the period, compared to $30.5 million in 2023. Cash at the end of the reporting period stood at $455.6 million, up from $217.9 million a year earlier.

Market conditions significantly influenced the Trust's performance, with the Japanese yen experiencing volatility due to Federal Reserve easing expectations and geopolitical concerns. The yen rallied in Q3 2024 following a surprise rate hike by the Bank of Japan, contrasting with its decline in the previous year. The Trust's operational expenses primarily consisted of the Sponsor's fee and interest expenses, with no distributions made to shareholders during the quarter.