A spike in the yen's value has invigorated some sectors of the economy, such as retail and travel, with the currency recently strengthening to a 15-year high and continuing to trade around the ¥85 range to the dollar.
The impact of the yen's surge is also visible in consumer behavior. Michio Arioka, a 52-year-old corporate executive living in Amagasaki, Hyogo Prefecture, returned to Narita airport on Tuesday from his summer vacation in Hawaii with an armful of shopping bags. Many other Japanese tourists returning from abroad did likewise.
"When I converted yen, I felt the wad of dollars (I was handed) was quite large," said Arioka. "I found it difficult to resist the urge to splurge."