Surging Yen Threatens Record Profit of Japanese Companies: Chart

The yen has surged more than 7 percent since Japan’s largest manufacturers forecast it would be at 119.40 per dollar for the rest of this fiscal year. That’s undercutting prospects the record profits of the last three years will continue, as income overseas won’t be worth as much when converted back into yen. Stock investors have reacted, helping to drive the Topix index down 18 percent this year.

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