TOKYO -- Exchange rates are starting to squeeze corporate performance in Japan, with a stronger yen weighing down April-June operating profits at major companies in automobiles and machinery among others by about 550 billion yen ($3.73 billion), or 14% of their total profits for the quarter.
Currencies
Corporate Japan's April-June profits take $3.7bn hit from exchange rates
Autos, machinery and others face forex headwinds for first time in 5 years
After many enjoyed the benefits of a weak yen for years, Japanese companies -- especially exporters -- must now deal with a stronger currency on top of U.S. tariffs. (Photo by Tomonori Washida)
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