Ten of Japan’s biggest companies are likely to pocket an extra ¥1.4 trillion ($9.3 billion) in profits this fiscal year if the yen continues to hover around the ¥150 mark to the dollar, a Bloomberg calculation shows.
The calculation is based on figures from 10 of the Japan’s 30 largest firms by market capitalization that specify the impact of exchange-rate movements on their earnings.
Many of Japan’s largest businesses are exporters that benefit from a weaker yen. The biggest beneficiary among the 10 companies from a weaker currency is Toyota Motor. The automaker says it gains ¥45 billion in operating profit for every ¥1 of additional weakness against the dollar.