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    7269   JP3397200001

SUZUKI MOTOR CORPORATION

(7269)
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Delayed Japan Exchange  -  02:00 2022-09-22 am EDT
4857.00 JPY   +0.21%
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Japan warns again about sharp yen moves, BOJ focuses on speed of change

05/12/2022 | 11:42pm EDT
Japan's Finance Minister Shunichi Suzuki prepares to ring a bell during the New Year ceremony marking the open of trading in 2022 at the Tokyo Stock Exchange in Tokyo

* Important for FX rates to move stably - BOJ Kuroda

* Weak yen boosts exports, inflates import prices - Finmin Suzuki

* Kuroda echoes Suzuki's warning sharp yen moves undesirable

TOKYO, May 13 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said recent sharp yen moves were undesirable, echoing comments by the finance minister in a sign policymakers were focusing on the speed of moves in gauging the impact of the currency's slump on the economy.

Kuroda said the yen's drop would affect households and firms in different ways, refraining from repeating his past comments a weak yen was generally good for Japan's economy.

"It's important for currency rates to move stably reflecting economic and financial fundamentals," Kuroda told parliament on Friday.

"The recent sharp, short-term fluctuations in the yen are undesirable, as it heightens uncertainty and makes it harder for companies to set business plans," he said on Friday.

The remarks were line with those made by Finance Minister Shunichi Suzuki, who said recent sharp yen moves were undesirable and that exchange-rate stability was important.

"A weak yen gives exports a boost but leads to higher import prices," he told the same parliament session.

The yen's slump to two-decade lows against the dollar has emerged as a source of concern for Japanese policymakers, as it inflates already rising costs of fuel and raw material imports.

Kuroda had repeatedly said a weak yen is good for the economy as a whole, as it boosts the value of profits Japanese firms earn overseas. The view contrasted with Suzuki's remarks that recent yen falls were bad for the economy.

In Friday's parliament session, Kuroda reiterated the BOJ's resolve to keep monetary policy ultra-loose to support an economy that has yet to emerge from the pain inflicted by the COVID-19 pandemic.

"The economy is in the midst of a recovery and now faces headwinds from rising commodity prices," Kuroda said. "It's therefore important to underpin economic activity with powerful monetary easing." (Reporting by Leika Kihara; Editing by Tom Hogue and Kim Coghill)


© Reuters 2022
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Financials
Sales 2023 4 297 B 30 004 M 30 004 M
Net income 2023 191 B 1 336 M 1 336 M
Net cash 2023 602 B 4 203 M 4 203 M
P/E ratio 2023 12,4x
Yield 2023 2,17%
Capitalization 2 359 B 16 471 M 16 471 M
EV / Sales 2023 0,41x
EV / Sales 2024 0,36x
Nbr of Employees 69 193
Free-Float 85,1%
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Number of Analysts 17
Last Close Price 4 857,00 JPY
Average target price 5 640,63 JPY
Spread / Average Target 16,1%
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Managers and Directors
Toshihiro Suzuki Senior Manager-Products Planning
Osamu Honda Representative Director & Technical Supervisor
Toshiaki Hasuike Director, VP, Head-Production & Technology
Kinji Saito Director & Senior Managing Executive Officer
Takanori Suzuki Director & Senior Managing Executive Officer
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