Japanese executives seek stronger yen, citing 150 and 100 per dollar levels

  • Kawasaki Heavy Industries and INPEX executives called for a stronger, more stable yen.
  • Kanehana cited ¥150 per dollar, while Ueda suggested ¥100 as an appropriate level.
  • Mitsui O.S.K. Lines Chairman Takeshi Hashimoto favored a ¥150-to-¥155 range.

Japanese executives from industrial, energy and shipping companies are calling for a stronger and more stable yen, even though their substantial dollar revenues benefit from currency weakness. At the Gastech energy conference in Bangkok, Kawasaki Heavy Industries Chairman Yoshinori Kanehana said sharp exchange-rate swings were among the company’s biggest problems and that a yen stabilized around 150 per dollar could prompt consideration of moving some U.S. production back to Japan. INPEX President and CEO Takayuki Ueda said the yen may be too weak for Japan’s overall economy and suggested ¥100 per dollar as a more appropriate level. Mitsui O.S.K. Lines Chairman Takeshi Hashimoto said a range of ¥150 to ¥155 would provide reassurance. The remarks reflect growing concern about volatility, import costs and planning risks beyond the traditional export-manufacturing sector. The dollar rose to around ¥156.42 on Thursday, while markets awaited a Bank of Japan meeting expected to deliver a 25-basis-point rate increase to 1.25%.

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