65% Of Firms Averse To Strong Yen: Teikoku Databank

Discussion in 'Data Sets and Feeds' started by ASusilovic, Sep 5, 2010.

  1. TOKYO (NQN)--Some 65.5% of Japanese companies view the strong yen as "unfavorable for the economy," shows a survey released Friday by Teikoku Databank Ltd.

    With the Japanese currency recently hitting a 15-year high against the dollar, the research company polled 22,732 firms nationwide in late August to gather their views on the trend, receiving valid responses from 50.9%.

    Many companies said a stronger yen could accelerate the country's deflation, or adversely affect exporters, which have been driving Japan's economic growth.

    Only 9.9% said they favor a strong yen.

    As for sales, 36.7% of the respondents said the currency's strength could "adversely affect" revenue, while 6.9% said the opposite.

    Many manufacturers expect negative effects from the strong yen. Machinery makers, transport equipment makers and precision machinery companies in particular said a strong yen is bad for their business.

    Of the respondents, 30.4% have business ties with overseas companies. A leading 19.2% of those said they will increase foreign procurement to deal with the muscular yen, followed by those saying they will raise their overseas prices, and by those saying they will increase imports.

    Another 14.1% said they will lower yen-denominated prices and keep their overseas prices unchange


    Good to know that BOJ gives a sh1t about Japanese companies concerns.
  2. Entering 0.001200 calls, short CME futures.
  3. Last print 0.011790. Exit 1/3 of position, waiting for reload.