Volatile yen risks ‘confused’ global markets, chairman of Japanese shipping giant says
While the weak yen is favorable to Japanese companies doing business elsewhere, the huge swings in the currency can be a problem, according to a top shipping executive. Mitsui OSK Lines’ revenue is mainly in U.S. dollars, so the company benefits from a depreciating yen, according to Chairman Takeshi Hashimoto. Mitsui OSK is the largest ...
The weak Japanese yen, while advantageous for Japanese companies operating overseas, can pose challenges due to its significant fluctuations, according to Mitsui OSK Lines Chairman Takeshi Hashimoto. As the company's revenue is primarily in U.S. dollars, a depreciating yen proves beneficial for Mitsui OSK Lines. Hashimoto expressed concern that the weak yen could generate confusion in the global financial market.
He emphasized the need for a stable currency market, ideally within a range of 150-155 yen to the U.S. dollar. The yen had recently traded around 153. The currency experienced sharp swings in recent months, reaching multi-decade lows in 2026, before Tokyo's interventions, including a joint effort with Washington, managed to strengthen the currency temporarily.
When asked about the Strait of Hormuz, Hashimoto expressed pessimism regarding a swift recovery for shipping in the region. He highlighted the challenges faced in resuming normal services, stating that it is currently highly unlikely. Hashimoto hopes that the ongoing negotiations between Iran and Gulf countries such as Oman and Qatar could lead to a "reasonably good situation," but he cautioned that it would require considerable time.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.