Friday, March 15, 2013
Dlr Set To Trade Between Y95 And Y100: JEMA Chief
TOKYO (NQN)--The head of an electronics industry organization said that he expects the dollar to steadily trade between 95 yen and 100 yen.
At a news conference Friday afternoon, Fumio Otsubo, chairman of the Japan Electrical Manufacturers' Association, said that the yen has been steadily weakening in recent weeks, after appreciating sharply for an extended period. But the yen is now at an ideal level because companies can start drawing up their medium- to long-term business strategies, said Otsubo, who also serves as the chairman of Panasonic Corp. (6752).
He also said that Japanese electronics makers have been hit hard by the South Korean won's weakness versus the yen over the past few years. Otsubo added that a further strengthening of the won would put South Korean manufacturers and Japanese manufacturers on a more equal footing.