thomson ifr: Japanese companies based in Osaka worried about yen suddenly strengthening

Companies based in or near the western Japanese city of Osaka are increasingly worried that the yen might suddenly strengthen, a senior official of the Bank of Japan said Friday.
"Managers at Osaka-based companies are now expressing concern about an abrupt reversal of the recent trend of the yen," the manager of the Osaka branch of the central bank, Masahiro Samejima, told a news conference.

"The yen has so far been staying at levels that are beyond the budgeted export hedging rate, thereby yielding a net positive impact on companies in this region, even after taking into account negative effects such as higher cost of imported products," Samejima said.