A majority of Japanese companies consider the yen’s recent weakness a negative factor for their businesses, according to a recent survey.
About 64% of firms surveyed said the recent depreciation of the yen has eroded their profits, while 7.7% saw a positive impact, according to a report published Friday by Teikoku Databank. Companies citing adverse impacts said they weren’t able to pass on rising raw materials costs to customers via price increases.
About half of surveyed companies said a yen trading around ¥110 to ¥120 to the dollar would be appropriate. At midday in Tokyo Friday the yen was trading around ¥155.80 to the dollar.