For Japan Inc, the weak yen may be too much of a good thing [Reuters]
Toyota Motor Corporation (TM)
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Source: Reuters
The currency fell to a 34-year low on Monday and has lost about a quarter of its value against the surging U.S. dollar in a little more than two years. Typically, a weak yen is seen as a boon for Japan Inc, as it makes cars and other goods cheaper overseas and lifts profits when earnings from abroad are brought home. But it has also pushed up costs of raw materials, food and fuel, battering sectors from farmers who import fertilisers to small manufacturers which rely on parts from China. The biggest squeeze has been for households, which for years have seen little wage growth. Their plight -- and that of Japan's legions of struggling small businesses -- may say more about the state of the country's still-limping economy than the windfall for exporters such as Toyota Motor or the stock market's climb to a record high. Smaller firms employ seven out of 10 workers in Japan, and have less ability to pass on rising costs by raising their selling prices in a competitive market. "
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