According to a recent survey, a majority of Japanese companies view the recent weakness of the yen as a negative factor for their business.
About 64% of companies surveyed said the yen’s recent depreciation has eroded their profits, while 7.7% saw a positive impact, according to a report published Friday by Teikoku Databank. Companies citing negative impacts said they were unable to pass on rising raw material costs to their customers through price increases.
About half of companies surveyed said a yen trading around ยฅ110 to ยฅ120 per dollar would be appropriate. On Friday afternoon in Tokyo, the yen was trading around ยฅ155.80 against the dollar.
