The FT reports the Japanese economy minister has been urging domestic businesses to take advantage of the strong yen to “snap up resources and increase overseas investments”.
We should use the strong yen assertively to invest and buy things, to be as proactive as possible,” Mr Edano said. “Japan is short on resources, so we need to use this opportunity to firmly secure rights to energy and commodities.”
This policy has been in place for the last several months with the Japanese government going so far as to set up a fund to help finance overseas takeovers.
Perhaps there is fresh emphasis being placed on it though given the recent price action in USD/JPY and EUR/JPY…