The yen is finally strengthening. That could be bad for corporate Japan's record profits
==========
Japanese companies in the Topix 500 Index earn 45% of revenue outside Japan; record quarterly profits reached ¥15 trillion ($104 billion) for the quarter ending June 30, 2024, a 9% increase year-on-year; yen traded at an average of ¥156 against the dollar in April-June, 12% lower than the previous year, but has since strengthened to around ¥145; analysts estimate each 1 yen appreciation reduces profits by 0.4-0.6%; concerns about sustainability of earnings due to weak demand in China and potential U.S. recession; companies like Olympus and Mitsubishi Chemical assumed a weaker yen in profit estimates; 64% of Topix companies beat expectations in the last quarter; analysts remain hopeful for a soft landing for the U.S. economy.
#Yen #Japan #CorporateProfits #Economy #Finance #Topix #China #UsEconomy #StockMarket #Earnings
https://fortune.com/asia/2024/08/22/yen-appreciation-hurt-corporate-japan-record-profits-china-earnings-topix-shares/
Fortune /
npub1v7…9v0r4
2024-08-22 06:48:35
Author Public Key
npub1v7hvaa8pv7g92sr6na55dtzaxmrrsgddxkhst3e8atw4nxusm37sg9v0r4Published at
2024-08-22 06:48:35Event JSON
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"content": "The yen is finally strengthening. That could be bad for corporate Japan's record profits\n==========\n\nJapanese companies in the Topix 500 Index earn 45% of revenue outside Japan; record quarterly profits reached ¥15 trillion ($104 billion) for the quarter ending June 30, 2024, a 9% increase year-on-year; yen traded at an average of ¥156 against the dollar in April-June, 12% lower than the previous year, but has since strengthened to around ¥145; analysts estimate each 1 yen appreciation reduces profits by 0.4-0.6%; concerns about sustainability of earnings due to weak demand in China and potential U.S. recession; companies like Olympus and Mitsubishi Chemical assumed a weaker yen in profit estimates; 64% of Topix companies beat expectations in the last quarter; analysts remain hopeful for a soft landing for the U.S. economy.\n\n#Yen #Japan #CorporateProfits #Economy #Finance #Topix #China #UsEconomy #StockMarket #Earnings\n\nhttps://fortune.com/asia/2024/08/22/yen-appreciation-hurt-corporate-japan-record-profits-china-earnings-topix-shares/",
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