More than half of major Japanese companies surveyed expect the economy to remain flat through the end of the year, citing such concerns as sluggish consumer spending, a stronger yen and the effects of Britain's decision to leave the European Union, a Kyodo News survey has shown.

Of the 108 companies surveyed in mid- to late July, including Toyota Motor Corp. and Panasonic Corp., 60 firms, or 56 percent, said they think the economy will stay flat through the end of this year and nine projected a moderate slowdown, while 35 expected a moderate expansion.

The survey results indicate Japanese companies are taking a cautious approach on their future business.