Nearly 64% of Japanese firms see weak yen as hurting profits, survey shows
TOKYO : Nearly 64 per cent of Jap companies peek the yen’s fresh declines as having a detrimental impact on their profits, a stumble on by deepest deem tank Teikoku Databank confirmed on Friday.
About half of of the companies surveyed noticed 110-120 because the correct level for the buck/yen pair, remarkable stronger for the yen than fresh ranges spherical 156, the stumble on confirmed.
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The stumble on was as soon as performed Would possibly perchance presumably perchance also simply 10-15 with 1,046 companies making true replies.
Whereas a former yen provides exports a rob, it has been a headache for policymakers as it hurts the financial system by inflating the worth of importing gas and raw material.
After the yen hit a 34-Three hundred and sixty five days low of 160.245 per buck on April 29, Jap authorities are suspected to procure spent greater than 9 trillion yen ($58 billion) intervening within the market to prop up the currency.
The buck stood at 155.80 in Asia on Friday.
($1 = 155.8200 yen)
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Source: Reuters
