October 20, Thursday, 2022 (1:30 p.m.) Newsline read by Mr. Yamaguchi Hiroaki

October 20, Thursday, 2022 (1:30 p.m.) Newsline read by Mr. Yamaguchi Hiroaki

1.Japanese companies which source products from overseas have been hit hard by the yen’s depreciation. Funasho Shoji is one of them. The company is based in central Tokyo and imports oranges, grapes and other fruit from the United States and South America.
2.The Japanese yen weakened to the 150 level against the US dollar at one point during Tokyo trading on Thursday. It is the first time the currency has dropped to this level in 32 years. The yen has now depreciated about 30 percent against the dollar this year.
3.The latest data shows Japan’s trade deficit rose to a record level in the first six months of the fiscal year, underscoring the extent to which a weakening yen is undermining the country’s purchasing power.