If you look at past sony console launch price, you will find that they never, ever do direct price translation.
For example, PS3 euro launch was 599 euro, in US it was 599 US dollar. By applying exact exchange rate example Euro one should've been below 500.
If Sony launch $39,999 yen for Japan, you are guaranteed to see $399 price in US and 399 Euro in Europe. Mark my word.
US prices are without taxes, euro prices include 20 % taxes (average across Europe). The PS3 pricing was very close to 1:1.