Business / Economy

Nearly 50% of Japanese firms suffering due to weaker yen, online poll suggests

Kyodo

A poll of Japanese companies has found that 48.4 percent of them have suffered as a result of the rapidly weakening yen, a credit research agency said on Wednesday.

Only 4.9 percent saw a positive impact, with 22.7 percent citing both positive and negative impacts, while 24.0 percent said they were unaffected, Tokyo Shoko Research said.

Specific negative impacts that were cited included hikes in purchase prices of imports (66.7 percent) and selected fuel price increases (19.1 percent).

Of those affected adversely by the yen’s depreciation, 80.8 percent said they failed to pass hikes in import prices on to their product prices. Only 19.2 percent reflected such hikes in their product prices.

Asked what measures they took in response to the yen’s depreciation, 73.2 percent said they implemented no measure, indicating that they had difficulties in finding any effective measures.

The online poll received valid responses from 4,896 companies between Oct. 10 and 21.

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