Japanese Stock Market Performance: FJPNX is a fund focused on Japanese equities, so the overall performance of the Japanese stock market significantly impacts its price.

Currency Exchange Rates: Fluctuations in the Yen/USD exchange rate affect the fund's value when converted back to USD. A stronger Yen benefits the fund.

Japanese Economic Conditions: Economic indicators like GDP growth, inflation, and unemployment in Japan influence the profitability of Japanese companies and, consequently, the fund's value.

Interest Rates in Japan: Changes in interest rates set by the Bank of Japan affect borrowing costs for Japanese companies and investor sentiment, impacting stock prices and the fund.

Global Economic Conditions: Broader global economic trends and investor sentiment can impact investor appetite for international investments like Japanese equities, influencing FJPNX.

Sector Performance: The performance of specific sectors within the Japanese stock market (e.g., technology, automotive) that the fund invests in will impact overall returns.

Fund Management Decisions: The fund manager's investment strategy and stock selection abilities play a role in how well the fund performs compared to its benchmark and peers.