With the yen at a 24-year low, Tokyo stocks down the most since March and bond yields hitting their ceiling, the Bank of Japan is under duress having to defend a policy the rest of the world is quickly moving on from. In his clearest warning yet on the yen’s weakness, BOJ Gov. Haruhiko Kuroda,
Washington – The U.S. Treasury Department said Friday that Japan remains on a list of countries it monitors over potentially “unfair” currency practices, while noting that foreign exchange intervention should only take place in “very exceptional” cases amid the rapid weakening of the yen against the U.S. dollar. In a semiannual report to Congress on
Six of Japan’s seven major automakers fared well on their consolidated bottom lines in fiscal 2021, benefiting from the yen’s weakening, according to earnings reports. Industry leader Toyota Motor Corp. reported a record net profit of ¥2.85 trillion in the year to March, up 26.9% from the preceding year. Net profit grew 7.6% to ¥707
Honda Motor Co. issued an annual operating profit outlook that fell short of analysts’ projections, reflecting the impact of higher raw material costs and production disruptions caused by war, China’s COVID-19 lockdowns and a persistent global shortage of semiconductors for automobiles. Operating profit for the fiscal year through March 2023 will be ¥810 billion ($6.3
None of Japan’s major companies see the yen’s recent rapid fall as positive for the domestic economy, even as the currency’s weakening typically benefits its export-oriented economic structure, a survey showed Monday. In a Kyodo News survey covering 125 companies, of which 109 such as Toyota Motor Corp. and Softbank Group Corp. gave valid answers,
Japanese mother of three Maiko Takahashi was never one to pinch pennies or accept hand-me-downs for her children even though circumstances for her single-income family have always been fairly modest. But times have changed. Nowadays, she has no trouble with used clothes and her pursuit of bargains and scrimping on the most trifling costs borders
Prime Minister Fumio Kishida said Tuesday rapid currency moves are “unfavorable” for many parties, amid growing concern about the negative impact of a weak yen on the fragile economic recovery at home. Speaking at a news conference, Kishida said currency levels reflect the outcome of economic and monetary policies, expressing hope that the Bank of
Bank of Japan Gov. Haruhiko Kuroda provided another strong sign that the central bank will continue capping long-term bond yields after holding his very first conference with Prime Minister Fumio Kishida given that the yen touched its least expensive level considering that 2015.” Each market operation does not straight affect foreign exchange rates,” Kuroda informed
In a time of both misinformation and excessive information, quality journalism is more essential than ever.By subscribing, you can help us get the story right. SUBSCRIBE NOW IMAGE GALLERY (CLICK TO ENLARGE). Prime Minister Fumio Kishida said Monday his federal government will assemble an additional economic package by the end of April to soften the
In a time of both false information and too much info, quality journalism is more vital than ever.By subscribing, you can assist us get the story. SUBSCRIBE NOW Japan must intervene in the currency market or raise interest rates to defend the yen if it deteriorates beyond ¥ 130 to the dollar, the countrys previous
