Yahoo! Inc. has recorded $273 million in gains resulting from steps taken to guard against swings in the Japanese yen that can affect the value of its Asian operations.

After using forward contracts to lessen foreign-exchange risk related to its stake in Yahoo Japan Corp., the company had a pretax gain of $270 million in the first quarter of 2013 and $3 million for last year, Sunnyvale, California-based Yahoo said in a regulatory filing today.  Article