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Over 60 Pct of Japan Firms See Yen's Recent Weakness Negative

Over 60 Pct of Japan Firms See Yen's Recent Weakness Negative

   Tokyo, May 19 (Jiji Press)--A private-sector survey has found that 63.9 pct of Japanese companies are seeing negative profit impacts from the recent weakness of the yen.
   About half of responding companies believe that exchange rates of 110 yen to below 130 yen to the dollar are appropriate, according to the survey by Teikoku Databank Ltd. The dollar is currently trading above 150 yen.
   It is important to boost momentum for firms to reflect higher material costs in their product prices to ensure growth in consumption backed by continued wage hikes and in corporate capital spending, the research firm said.
   Only 7.7 pct said that yen's depreciation is a plus for their profits while 28.5 pct are seeing no impact.
   The proportion of companies seeing the yen's weakness adversely affect their sales and that of firms with positive sales impacts came to 35.0 pct and 16.0 pct, respectively.

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AFP-JIJI PRESS NEWS JOURNAL


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