The yen’s surge Friday caused what would be the equivalent of 39.3 billion yen ($383 million) in annual losses for Japan’s five biggest trading houses, according to data compiled by Bloomberg. Profits fall at Japan’s trading companies when the nation’s currency appreciates because of their extensive overseas operations. The Japanese currency surged as much as 7.14 yen to 99.02 yen against the U.S. dollar, and traded at 102.84 at 9:21 a.m. in London.
Photographer: SeongJoon Cho/Bloomberg
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