Transferred from: Golden Ten data

The Japanese government seems to be stepping in to prop up the declineHouseoffuncasinofreecoinsAt the same time, Japanese exporters expressed unusual unease about the weakening of the yen.

Earlier this week, the USDJPY briefly breached 160. In the early hours of Thursday, the Japanese authorities suspected of intervening to push the yen back to 153.

Typically, Japanese exporters prefer a weaker yen because it increases export earnings denominated in dollars and other foreign currencies. Japanese companies that mainly rely on the domestic market or rely heavily on imports will be frustrated by rising costs. However, the continued depreciation of the yen has made it difficult for all Japanese companies to plan.

"Today, the benefits of a weaker yen are not as obvious as they used to be, which is extremely rare," said Minoru Asada, senior managing director of Canon. About 78 per cent of the company's revenue comes from overseas.

The aviation industry has been hit by two aspects at the same time. Aviation fuel must be purchased in US dollars. On the other hand, while the number of Japanese traveling abroad is decreasing, tourism to Japan is extremely popular.

Koji Shibata, president of all Nippon Airways Holdings (ANA Holdings Inc.), said that while the company earns a lot of foreign exchange from international cargo and passenger flights, higher ticket prices (including fuel surcharges) and a decline in purchasing power caused by a weak yen are bad for Japanese outbound travel. Mitsuko Tottori, president of the company's rival Japan Airlines, said she was "very worried" that young Japanese would give up traveling abroad.

"this has had a huge negative impact on Japanese psychology," Koji Shibata said, adding that he would like to see the yen rise to 125.

Japanese export-oriented companies have expressed concern about the current level of the yen, according to a survey of major Japanese companies conducted by foreign media during the earnings season.

Of these, Murata Manufacturing Company (Murata Manufacturing Co.) about 90% of its total sales come from overseas, but the company said that while the depreciation of the yen has a "positive impact" on its short-term earnings, it does not want to see the yen depreciate too quickly, as an overly weak yen could affect the entire supply chain.

Nearly 75% of Suzuki's combined sales in places such as India come from overseas. The company said that while a break of 150 against the yen was good for its business, above 155, the advantage was difficult to detect.

Japanese companies are also using hedging to protect themselves from exchange rate fluctuations.

Cosmetics maker Shiseido Co. Said it is responding to the recent depreciation of the yen by monitoring market prices, adjusting risk hedging ratios and raising hedging ratios above normal levels.

Japan Tobacco Corp. (Japan Tobacco Inc.) says in principle, it will hedge 100% of foreign currency-denominated receivables and payables in the short term. In addition, future cash flows will be hedged. The company also promotes "natural hedging", in which local raw materials are purchased and produced in local currency to ensure that the payment currency matches the income currency.

In the survey, some companies said they were unprepared for the rapid depreciation of the yen. Mitsubishi heavy Industries (Mitsubishi Heavy Industries Ltd.) had expected the yen to appreciate temporarily as the Bank of Japan ended its negative interest rate policy. The company said that while the weaker yen was good for short-term earnings, the excessive weakness reflected the relative recession of the Japanese economy.

A weaker yen would also make overseas mergers and acquisitions more expensive, undermining corporate strategies that want to offset Japan's ageing population by expanding overseas. Tadashi Yanai, president of a Japanese shipping company called Mitsui OSK Lines Ltd., believes that the weak yen makes overseas mergers and acquisitions more difficult, ideally for the yen to return to strength.

This view is shared by Tadashi Yanai, Japan's richest man and president of Fast Retailing (Fast Retailing Co.). The parent company of his company, Uniqlo, benefited from changes in the yen exchange rate, recording a foreign exchange gain of 16.5 billion yen in the first half of the company's fiscal year. However, Yanai stressed that, overall, the weak yen is harmful to the country as a whole.