Japanese Companies Struggle With Yen's Continued Weakness [Yahoo! Finance Canada]
JAPAN AIRLINES UNSP/ADR (JAPSY)
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Source: Yahoo! Finance Canada
(Bloomberg) -- Japan's companies are expressing unusual discomfort with the weak yen, just as the country's government appears to be stepping in to prop up its tumbling currency. Most Read from Bloomberg The yen briefly crossed the 160 to the dollar level earlier this week. It has since gained to 156.22 yen after suspected intervention. ADVERTISEMENT Traditionally, exporters welcome a weaker yen as it boosts income from exports paid for in dollars and other foreign currencies. Companies that mostly rely on the domestic market or depend heavily on imports suffer from higher costs. But the currency's sustained decline has made planning difficult for all firms. “The benefits of a weaker yen are less obvious than in the past,” said Canon Inc.'s Senior Managing Director Minoru Asada on April 24. The company gets about 78% of its revenue from overseas. “This is an extremely rare situation” The airline industry straddles both worlds. Imported fuel must be paid for in dollars and
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