Firms in Japan seek new hedges, bracing for long era of yen weakness
Taku Ueno buys beef from America, olive oil from Spain and tomatoes from Italy to stock his supermarkets south of Tokyo, imports that have more recently become costlier almost by the day as the yen falls relentlessly.
The yen has weakened despite currency intervention in 2022, 2024 and 2026, and the exchange rate is still under pressure, even after rare joint U.S.-Japan buying in August and July.
Ueno, chief executive of Takara MC, which operates 43 supermarkets, and his counterparts across Japan are losing patience, and looking for ways to insure against further weakness.
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