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Japanese firms worry over yen decline
Senior executives of Japanese companies have expressed increasing concern over the declining value of the yen, which no longer provides a competitive advantage as it previously did, but instead threatens economic stability and hampers long-term growth strategies. The CEO of Kawasaki Heavy Industries explained that fluctuations in the exchange rate around 150 yen per dollar could prompt companies to relocate manufacturing operations back to Japan. The CEO of Inpex called for strengthening the local currency, believing that a fair exchange rate would be 100 yen per dollar, although most of the company's operations are conducted in dollars, which has helped to soften the impact of the decline on its profits. According to a survey conducted by the Bank of Japan, companies have based their financial forecasts on an assumed average exchange rate of 152.51 yen per dollar.
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