[TOKYO] Top Japanese firms think the yen will not decline much further next year and may even stage a sizeable rebound despite Prime Minister Shinzo Abe's easy-money policies, a Reuters survey shows.
The survey of 67 firms, of which 47 responded between Dec 15 and 22, forecasts an average 2015 low for the yen of 125 to the dollar and a high of 112. The currency closed at 120.40 on Friday.
The Japanese currency has lost about one-third of its value since Abe took power in late 2012, launching an aggressive mix of monetary and fiscal stimulus in an attempt to revive the flagging economy.
Many companies are bullish on the Tokyo stock market, forecasting a range of 16,000-20,000 on the Nikkei stock average next year, compared with Friday's close of 17,818.96.
Suntory Holdings Ltd and Mitsubishi Chemicals Holding Corp were the most optimistic companies, offering an upper forecast of 22,000 and 21,000 respectively.