Japanese companies should take advantage of the strong yen to increase their overseas investments and acquire natural resources, according to the country’s economy minister.
While Japanese exporters have been complaining about the yen’s rise, which hit record highs on a nominal basis against the dollar late last year, Yukio Edano said companies should not ignore the upside of a strong currency.
“We should use the strong yen assertively to invest and buy things, to be as proactive as possible,” said Mr Edano, whose brief also includes trade and industry. “Japan is short on resources, so we need to use this opportunity to firmly secure rights to energy and commodities.”
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