Downtrend: The logo of Mitsubishi Motors Corp is displayed at the company’s headquarters in Tokyo, Japan. A total of 438 Tokyo-listed companies have cut their full-year earnings guidance, according to data compiled by Bloomberg. Fifty-six of them announced a change to their currency expectations in addition to their lowered profit forecasts. — Bloomberg
TOKYO: In a disappointing third quarter earnings season for Japan Inc, one prominent theme is that moves in the yen have been a particular headache.A total of 438 Tokyo-listed companies have cut their full-year earnings guidance, according to data compiled by Bloomberg. Fifty-six of them announced a change to their currency expectations in addition to their lowered profit forecasts.
Prominent corporates Asahi Group Holdings Ltd, Mitsubishi Motors Corp and Shiseido Co all highlighted the impact of currencies when they revised their earnings guidance lower.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
