Japan companies brace for forex bumps, assume 144 yen-dollar rate

TOKYO — Japan’s listed companies are assuming an average exchange rate of 144 yen per dollar in their latest earnings forecasts, an appreciation of about 10 per dollar compared with prevailing rates, reflecting their concerns about volatile foreign exchange rates.

According to a Nikkei survey of around 380 companies that disclosed their foreign exchange rate assumptions as of May 15, half of the total, or 191 companies, set their rates 145 yen or above and below 150 yen to the dollar for fiscal year ending March 2025. Two big manufacturers, Toyota Motor and Mitsubishi Heavy Industries, put the dollar at 145 yen.