Nearly 70% of Japanese firms expect the fallout from the crisis in Ukraine to hurt their earnings, a Reuters poll showed, with a majority of those citing a surge in oil prices as their primary concern.

The latest Reuters Corporate survey highlighted the likelihood of more pain ahead for companies in resource-poor Japan, where a weakening yen is further adding to the cost of commodities and heaping more pressure on households.

A total of 69% of companies surveyed said they expected the crisis to hit earnings, with 9% of firms saying they expected a large impact.