Japan’s trading houses see rate hike as positive for business

Executives at the companies this week have been brushing off the impact of a stronger yen on their profit outlook. — Bloomberg

Tokyo: Japanese trading houses say the central bank’s decision to raise interest rates is positive for their domestic businesses because it signals improvement in the economy, as they released quarterly results that missed estimates.

Marubeni Corp sees limited impact on capital procurement costs from the Bank of Japan’s decision to tighten policy, chief financial officer Takayuki Furuya said during an earnings press conference yesterday.