Major listed companies in Japan are pinning their hopes on a stronger yen in their yen-dollar exchange rate forecasts for the 2024 fiscal year (April 2024 to March 2025), the Nihon Keizai Shimbun (Nikkei) reported on the 13th.
Currently, the yen-dollar exchange rate is trading around 155 yen per dollar, while major listed Japanese companies predict it will fall to an average of 144 yen per dollar.
According to a compilation of forecasts from about 230 companies that disclosed their expected exchange rates by the 10th, 97 of these companies predicted the rate to be in the 145 yen range per dollar. Toyota Motor Corporation and Mitsubishi Heavy Industries are representative examples.
Sixty companies, including Komatsu and Mitsubishi Electric, forecast the rate to be in the 140 yen range per dollar. Socionext predicted the 130 yen range, and FANUC forecasted the 135 yen range. Companies such as Chugoku Electric Power and Toho Gas predicted rates close to the recent level of 150 yen per dollar.
Major listed companies disclose their expected exchange rates, which serve as the basis for calculating earnings forecasts, when announcing their operating results along with the next fiscal year's performance outlook.
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