More than 60% of Japanese companies want the central bank to end its policy of massive monetary easing this fiscal year due to pain from the weak yen, with roughly a quarter calling for it to take action now, a Reuters survey shows.
Less than a year ago, Japan Inc. had enthusiastically backed the Bank of Japan's policy but this year's rapid slide in the yen to a two-decade low has jacked up prices of fuel and raw materials imports, lifting not only corporate costs but also hitting household spending.
This month the yen hit a fresh low of ¥131.34 to the dollar, a 14% decline since the start of the year.