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Why the weak yen no longer means what it once did for Japan Inc

Financial Times LogoFinancial Times1w ago

Why the weak yen no longer means what it once did for Japan Inc - Financial Times

Quick Summary:

Going forward, Uniqlo has already announced price hikes for some of its products and its overseas sales are expected to grow further.“It’s a wrong to assume that all retailers will do badly as a result of the weaker yen,” said Credit Suisse analyst Takahiro Kazahaya.

The real effective exchange rate, a measure of the currency’s strength against those of trading partners adjusting for price levels, has reached its lowest level since 1970, according to Bank of Japan data.

But with its Uniqlo stores currently generating nearly half of their annual profits outside of Japan, a depreciation of ¥1 against the US dollar increases its profits by ¥1.2bn when repatriated.

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Article Details

Author / Journalist: Kana Inagaki

Category: MarketsFinanceInvesting

Topics: Cent Profits Japan Uniqlo Dollar Costs Been Japanese Year Weaker Products

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-22, 04:00:50

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 8 minutes read

Article Length: 1439 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 460834

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News Last Updated: 8h ago

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