Zen Textile, located in Haining, Zhejiang, is a high$-$quality socks manufacturer. Its products are usually exported to US$,$ Europe and Japan. Zen Textile generally invoices in CNY when it sells to foreign customers. Nevertheless, it has just received an order from UNIQLO in Japan for CNY$50,000,000$ of its products, conditional upon delivery being made in three months$$ time and the order invoiced in Japanese yen. Zen$$s CFO, Mr$.$ Wang, is concerned with whether US dollar will appreciate versus the Japanese yen over the next three months, thus eliminating all or most of the profit when the yen receivable is paid. He thinks this an unlikely possibility, but he decides tocontact the firm$$s banker for suggestions about hedging the exchange rate exposure. Mr$.$ Wang learns from the banker that the current spot exchange rate in CNY$/$JPY is $0\mathrm{.}0492$; thus the invoice amount should be JPY$1,016,260,163.$ Mr$.$ Wang also learns that the three$-$month forward rates for the Chinese yuan and the Japanese yen versus the U$.$S$.$ dollar are CNY$7\mathrm{.}0892/$USD and JPY$145\mathrm{.}394/$USD$,$ respectively. The banker offers to set up a forward hedge for selling the Japanese yen receivable for Chinese yuan based on the CNY$/$JPY forward cross$-$exchange rate implicit in the forward rates against the dollar.

What would you do if you were Mr$.$ Wang?