More than half of surveyed major Japanese companies expect the nation’s economic conditions to stay flat by the end of this year, citing such concerns as sluggish consumer spending, a firmer yen and effects of Britain’s decision to leave the European Union, a Kyodo News survey has shown. Of a total of 108 companies surveyed in mid- to late July, including Toyota Motor Corp. and Panasonic Corp., 60 firms, or 56%, said they think the economy will stay “flat” by the end of this year and nine firms projected a moderate slowdown, while 35 firms expected a moderate expansion. The survey results indicate Japanese companies are taking a cautious approach on their future business. In the survey, 39 surveyed firms, or the largest proportion at 36%, said they assume the dollar to average in a range between 110 yen to 115 yen in fiscal 2016 ending next March, and 18 firms expect the exchange rate to be in a range between 105 yen to 110 yen.
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