A weaker yen can benefit Japanese companies with overseas operations, but sharp currency swings pose significant risks, according to Mitsui OSK Lines Chairman Takeshi Hashimoto.
Mitsui OSK earns most of its revenue in U.S. dollars, meaning the company benefits when the yen depreciates, Hashimoto said. Mitsui OSK is the world’s largest tanker owner and operator and one of the largest shipping companies.
“We were concerned that the weak yen could create confusion in financial markets,” Hashimoto told CNBC’s Lisa Kim in an interview.
Hashimoto said he wanted to see greater stability in currency markets, adding that an exchange rate of 150 to 155 yen per dollar would be “comfortable.” The yen was recently trading near 153.
The Japanese currency has fluctuated sharply in recent months, falling to multi-decade lows during 2026. Interventions by Tokyo, including joint action with Washington, temporarily strengthened the yen.
Hashimoto said he was pessimistic about a swift recovery in shipping through the Strait of Hormuz.
“For the time being, it is almost impossible for us to resume normal service in the Strait,” he said. Data published Monday by analytics firm Kpler showed that an average of 10 commodity vessels passed through the strait each day over the previous 10 days, the lowest level since May.
Hashimoto said he hoped talks between Iran and Persian Gulf nations, including Oman and Qatar, would produce a “reasonably good situation,” but warned that progress could take time.
