The Japanese yen falls to a near 40-year low, Japanese companies experience both good and bad fortune: car manufacturers welcome unexpected $5.8 billion windfall, while domestic retail demand is suffering.
According to the Zhitong Finance and Economics APP, despite the fact that the Japanese government is seeking new intervention measures to curb the yen exchange rate falling to the lowest level in nearly 40 years, the weak yen may still unexpectedly bring about $5.8 billion in profits to the country's car manufacturers this year. Assuming the yen remains close to current levels, Bloomberg Intelligence calculates, based on forecasts from various companies, that the total profit upside potential is approximately 934 billion yen ($5.8 billion).
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