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Corporate Japan playing it safe on exchange rates

TOKYO -- Japanese enterprises continue to predict a strong yen for the rest of fiscal 2016 despite recent depreciation, preferring underestimating earnings to getting burned by surprise shifts.

Of 62 major companies announcing second-half exchange rate forecasts in October, 35 see the currency at 100 against the dollar. The group averages around 102. The greenback now fetches 104 yen to 105 yen.

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