Cheap yen a boon and a risk for Japan companies
usnews.com -- Feb 12
As the yen weakens, famous Japanese exporters from Toyota to Nintendo are getting a boost but the favorable exchange rate also carries risks by insulating some companies from pressure to overhaul their businesses.
Against the dollar, the yen is near a three-year low and looks set to weaken further as the Bank of Japan falls into line with the new Prime Minister Shinzo Abe's push to break Japan's domestic economy out of its deflationary slump with very loose monetary policy - creating more money. One U.S. dollar is now buying more than 94 yen compared with 77-80 yen for much of 2012.
It's a big shift from several years of punishing yen strength that added to the problems of Japanese companies, particularly those in consumer electronics who fell behind more innovative or nimble competitors such as Apple Inc. and Samsung Electronics Co.
Source: usnews.com
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