A survey by Teikoku Databank revealed that 80% of companies believe that the current depreciation of the yen is a factor in the deterioration of their business performance. Only 10% of companies thought that it would be positive for their business performance. The depreciation of the yen has so far been seen as a positive for the Japanese economy, but it has now become apparent that it has become a drag on the business performance of many companies.
The yen exchange rate, which was 115 yen to the dollar at the beginning of this year, rapidly depreciated to the 139 yen level in July against the backdrop of interest rate hikes in the United States.
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Original News Source: (c) The Mainichi Newspaper #akonikk
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