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October 16, 2025
 

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YEN

Less than a week ago, Sanae Takaichi seemed set to become Japan's first female prime minister.
BUSINESS / Markets
Oct 10, 2025
‘Takaichi trade’ starts unwinding as political calculus upended by Komeito exit
Stocks fell and the yen rose after the coalition collapsed
Despite heightened geopolitical tensions and escalating trade wars, the U.S. dollar’s global dominance is unlikely to fade in the near term, leaving Asian economies vulnerable to dollar shocks.
COMMENTARY / World
Oct 10, 2025
How Asia can reduce its dollar dependence
While geopolitical tensions and the risk of sanctions have fueled diversification efforts, the greenback’s international dominance is unlikely to diminish in the near term.
For decades, investors have turned to the yen during market shocks, but that instinct is now under strain.
BUSINESS / Markets
Oct 9, 2025
Yen’s haven status undercut by gold surge and BOJ rate-hike doubts
For decades, investors have turned to the yen during market shocks, from financial crises to geopolitical blowups.
Against the yen, the dollar was last up 0.53% at ¥152.7. It earlier reached ¥152.99, the highest since Feb. 14, and has risen from ¥147.44 on Friday.
BUSINESS / Economy
Oct 9, 2025
Yen weakest since mid-February on fiscal fears
The dollar has likely benefited from a lack of U.S. government economic data as the federal government remains shut.
Sanae Takaichi, newly elected leader of the Liberal Democratic Party, speaks during a news conference at the party's headquarters in Tokyo on Saturday.
BUSINESS / Markets
Oct 5, 2025
Takaichi's win to support Japanese stocks but weigh on yen and bonds
Bank stocks will likely struggle on expectations rate hikes will be pushed back, while domestic demand and small-cap shares may get a "significant tailwind," experts say.
James Baker speaks at the funeral service for former U.S. President George Bush in Houston in December 2018. As Treasury secretary in 1985, he was the key U.S. negotiator of the Plaza Accord, the landmark deal to weaken the dollar and realign global currencies.
COMMENTARY / Japan
Sep 22, 2025
Why the Plaza Accord is still the gold standard
Rather than grieve Plaza, salute it. The deal reflected a confluence of national interest, diplomatic nous and a sense that common interests dictated collaboration.
The Plaza Hotel in New York, where finance ministers and central bank chiefs from the Group of Five countries met and struck the Plaza Accord on Sept. 22, 1985.
BUSINESS / Economy
Sep 21, 2025
40 years after Plaza Accord, Japan still at mercy of forex swings
Monday marks the 40th anniversary of the accord, struck between Japan, the U.S., the U.K., France and what was then West Germany.
U.S. Treasury Secretary Scott Bessent and Japanese Finance Minister Katsunobu Kato reaffirmed in a joint statement their commitment to allowing markets to determine currency exchange rates and not targeting them for competitive advantage.
BUSINESS / Economy
Sep 12, 2025
U.S. and Japan pledge not to manipulate forex for competitive advantage
Tokyo has spent close to $150 billion in the last three years trying to prop up the yen with the last move in July last year.
Bank of Japan Gov. Kazuo Ueda
BUSINESS / Economy
Sep 3, 2025
Ishiba meets with BOJ's Ueda to discuss economy and markets
The pair’s first meeting since February suggests Ishiba is trying to show market participants that his government and the BOJ will be coordinating closely.
Mazda Motor posted a consolidated net loss of ¥42.1 billion ($286 million) for the three months to June, its first loss in the fiscal first quarter since 2020.
BUSINESS / Companies
Aug 6, 2025
Mazda swings to net loss in April-June
The automaker posted a consolidated net loss of ¥42.1 billion for the period as a result of steep U.S. tariffs and a stronger yen.
Finance Minister Katsunobu Kato
BUSINESS / Economy
Aug 1, 2025
Japan’s Kato voices concern with yen at weakest since March
Kato’s comments came after the yen slid past the 150 level against the dollar on Thursday, following the BOJ’s decision to leave interest rates unchanged.
Prime Minister Shigeru Ishiba, also president of the ruling Liberal Democratic Party, speaks to reporters at the party's headquarters in Tokyo on Monday. The party’s loss in the July 20 Upper House election has become the defining factor for the yen.
BUSINESS / Markets
Jul 30, 2025
Yen option traders brace for more weakness ahead of BOJ decision
Analysts warn that Prime Minister Shigeru Ishiba may resort to populist spending to shore up support for his weakened coalition.
The University of Tokyo. International students are increasingly flocking to Asia, with affordability being a particularly important metric.
JAPAN / Society
Jul 25, 2025
Tokyo is the No. 2 choice for international students
Amid rising costs of living, affordability is a key factor for students when deciding where to study abroad.
A lack of clarity around fiscal and economic policies is likely to dim the global appeal of Japanese assets, analysts say.
BUSINESS / Markets
Jul 22, 2025
Japanese bonds remain vulnerable as unpopular Ishiba holds on
Benchmark 10-year bonds fell only slightly as trading resumed in Tokyo, pushing yields up by 1.5 basis points.
Trading volumes in dollar-yen call options, which gain in value if the yen depreciates against the dollar, more than doubled those of put options on July 11.
BUSINESS / Markets
Jul 14, 2025
Yen traders revamp option bets ahead of Japan election
Expectations that the election outcome may pave the way for additional fiscal stimulus have already started to drive long-term Japanese yields higher.
The yen-dollar exchange rate is displayed outside a securities firm in Tokyo on Tuesday.
BUSINESS / Economy
Jul 10, 2025
Japan unlikely to face U.S. pressure to strengthen yen, ex-top FX diplomat says
Masatsugu Asakawa was deeply involved in Japan's trade and currency negotiations with the U.S. when he was vice finance minister for international affairs.
Data compiled by the Japan Department Stores Association shows that tax-free inbound sales at over 80 department stores across the country fell by 41% in May from a year earlier.
BUSINESS / Economy
Jul 3, 2025
Japan’s department store shares lag as tourist splurge slows
Tax-free inbound sales at over 80 department stores across the country fell by 41% in May from a year earlier.
Bank of Japan Gov. Kazuo Ueda announces the start of the circulation of new banknotes on July 3, 2024.
BUSINESS
Jun 30, 2025
Japan’s new banknotes see slow adoption one year after launch
Roughly 5 billion new banknotes were in circulation as of the end of May, accounting for just 28.8% of all notes in use.
Nomura Holdings predicts the dollar to trade around ¥136 by the end of September, against around ¥145 currently.
BUSINESS / Markets
Jun 8, 2025
Nomura flags risk of sharp yen rally on U.S.-Japan policy pressure
The investment bank, among Japan’s largest, now recommends shorting the greenback versus the yen, targeting a move in the pair to ¥136 by the end of September.
Japan’s biggest life insurers collectively lowered bullish yen wagers tied to their foreign investment holdings, a move that suggests they see a lower likelihood of the yen showing the kind of strength it did in the past.
BUSINESS / Markets
May 30, 2025
Japanese life insurers cut bullish yen hedges to 14-year low
Nine of Japan’s biggest life insurers collectively lowered bullish yen wagers tied to their foreign investment holdings to 44.4% at the end of March from 45.2% six months earlier.
Hypothermia in the land of the rising Sanae
Amid the election of Sanae Takaichi as Liberal Democratic Party president, and possibly the next prime minister, Japan's economy shows signs of recovery, but weak wages, a conservative corporate culture and currency issues raise doubts about a true economic thaw.
Number of scenarios now on the table for who might be Japan’s next prime minister
Newly-elected leader of Japan's Liberal Democratic Party Sanae Takaichi (right) celebrates with Prime Minister Shigeru Ishiba after winning the LDP leadership election in Tokyo on October 4.
Could an opposition candidate become Japan's next prime minister?
The lawmaker that secures a majority of votes in the Lower House will become prime minister. If no one gets a majority, the two top contenders will enter a runoff in which the person with the highest number of votes gets elected.
Coalition talks could bring Takaichi closer to being PM
Nippon Ishin no Kai leader and Osaka Gov. Hirofumi Yoshimura meets with Liberal Democratic Party President Sanae Takaichi in Tokyo on Wednesday.
As temperatures drop in Japan, bear attacks shoot up to historic highs
Bear warning signs at the Akita Prefectural Government building
Number of scenarios now on the table for who might be Japan’s next prime minister
Newly-elected leader of Japan's Liberal Democratic Party Sanae Takaichi (right) celebrates with Prime Minister Shigeru Ishiba after winning the LDP leadership election in Tokyo on October 4.
Pace eyes great strides for Japan’s art market
Pace Japan Vice President Kyoko Hattori, the de facto head of the nation’s business, believes a larger, more lucrative art market will allow Japan to be more attractive for collectors.
A frenetic diplomatic schedule looms for Japan’s next leader — whomever that may be
As horse-trading and speculation surge over who will be elected the next prime minister in parliament — the ruling Liberal Democratic Party's Sanae Takaichi or a possible candidate put forward by a unified opposition — Japan’s next leader will be confronted with a quick succession of key diplomatic events.
Ghost of Yotei’s bloodstained fun sidesteps Ainu identity
Ghost of Yotei, the follow-up to 2020's smash hit Ghost of Tsushima, is a violent, vengeful and engaging romp through 17th-century Hokkaido that fails to stick the landing on its most sensitive cultural material.
At Osaka Expo, gas giants promote a greener future. But is it a lot of hot air?
The Gas Pavilion had welcomed around 500,000 visitors by the end of August, making it one of the most popular exhibits at the Osaka Expo.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

Rock group The Yellow Monkey played K-Arena Yokohama in June as part of a nationwide tour. Concerts are increasingly popular in the age of social media as users value in-person experiences.
Inside Japan’s arena boom: Sports, sound and city-building
By Patrick St. Michel

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