Japanese Executives Call for a Stable Yen as Kawasaki Weighs Moving Production Home if It Hits 150

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โดย CNBC·JP·Read original
Summary · why it matters

Japanese corporate executives are calling for a stronger and more stable yen, saying that currency volatility makes it hard for companies to plan costs and production. Yoshinori Kanehana, chairman of Kawasaki Heavy Industries, told CNBC during the Gastech conference on Tuesday, September 15, that if the yen remains volatile the company cannot formulate strategy, and that if the yen strengthens to 150 per dollar, the company may consider moving production back to Japan from the United States. Kawasaki Heavy Industries currently has 27 plants outside Japan, including in the United States, and another 17 plants in Japan. Takayuki Ueda, president and CEO of Inpex, said that a yen level of 100 per dollar is appropriate and consistent with the state of the Japanese economy, even though nearly 90% of Inpex's business is conducted outside Japan and is mainly denominated in US dollars. Inpex's revenue fell in the first six months of the year on lower crude oil sales volumes, but the yen's 6.7% depreciation to 158.37 per dollar helped offset part of the revenue decline. Meanwhile, Takeshi Hashimoto, president of Mitsui O.S.K. Lines, said last week that he wants to see a stable currency market and would be comfortable if the yen were at 150 to 155 per dollar. The yen was trading at 156.3 per dollar on Thursday, September 17, compared with an average exchange rate of about 123 per dollar over the past 10 years. A Bank of Japan survey showed that Japanese businesses expect the yen to average 152.51 per dollar in the second half of this year.

Impact on stocks 3

Robotics & Physical AI▲ · 1 stocks
Kawasaki Heavy Industries Ltd.
7012
± MixedMonetaryrelevance

Kawasaki chairman says yen volatility prevents strategy planning and that a move to 150/USD could prompt shifting production back to Japan from the US.

Energy Transition & Power Demand▲ · 1 stocks
Inpex Corporation
1605
± MixedMonetaryrelevance

Inpex CEO says 100 yen/USD is appropriate; the yen's 6.7% depreciation to 158.37 helped offset part of Inpex's H1 revenue decline from lower crude volumes.

Industrials▲ · 1 stocks
Mitsui O.S.K.Lines,Ltd.
9104
± MixedMonetaryrelevance

MOL president wants a stable currency market and would be comfortable with the yen at 150-155/USD, a preference rather than a concrete business action.

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