Word: minohara
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...SUPERSTRONG YEN SHOULD DRIVE up the price of parts that Japanese businessman Toshinori Minohara makes for office copiers and force him out of the market. But Minohara is turning the currency's power into an opportunity: instead of expanding in Japan, he recently opened a plant in the city of Dongguan, China, where cheap wages will lower his manufacturing costs. "Nowadays I show my buyers a part that costs 1,500 yen," says Minohara. "But very soon we will be making this in China, and it will cost 1,000 yen. That's how we keep our customers coming back...
While nimble executives like Minohara have coped with the strong yen and its relentless rise since January, Japanese business leaders were shaken last week when the currency soared to a record 80.15 to the U.S. dollar. (The dollar fetched 240 yen 10 years ago.) Tokyo responded by slashing the Japanese central bank's discount rate from 1.75% to a record low of 1%. The idea was to make any interest-bearing Japanese investment less attractive to foreign investors who might then choose to put their money in dollar-denominated bonds and thus strengthen demand for that currency. The government also...
| 1 |