Weak yen, higher costs weigh on Japan business sentiment

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — A survey by the Bank of Japan has found business sentiment among large manufacturers worsened for the third straight quarter. Japan is grappling with rising costs, a weakening currency and slowing business activity. The “tankan” survey released Monday showed more large manufacturers found business conditions to be negative rather than positive. Sentiment among large nonmanufacturers improved. Prices are rising in Japan amid decades-high global inflation for food and many commodities, but its central bank has not followed the lead of others in raising interest rates, keeping its own benchmark rate unchanged. So the yen has weakened sharply against the U.S. dollar, raising costs for businesses and consumers.