The yen’s dramatic decline to multi-decade lows is becoming a hindrance for more than a half of Japan’s small and midsize businesses as they are hit by soaring raw material and energy prices, a recent survey by the Japan Chamber of Commerce and Industry (JCCI) showed.
According to the survey, of 2,008 small enterprises contacted last month, 54.8% of the respondents said that the weakness of the Japanese currency was a big problem for their operations compared with 47.8% in the previous poll, conducted in November.
Only 2.3% in the latest survey said that the weakening of the yen was a big help.
