In the past, export-oriented Japanese companies that suffered from the strong yen have moved their factories and other facilities overseas. Measures have already been taken to mitigate the impact of the exchange rate. Of course, a weaker yen means that domestically produced goods will sell better overseas.

So, corporate earnings, including Uniqlo, are at record highs, corporate tax revenues are at record highs, and GDP will also be boosted.

In addition, the government has about $1.3 trillion in dollar reserves (U.S. Treasury bonds), and there is about 30 trillion yen in foreign exchange gains from the recent sharp depreciation of the yen. And this is not being used to fund the supplementary budget, economically illiterate Prime Minister Kishida!KDP Representative Tamaki was correct when he pointed out in the Diet that “the government will be happy.

Do not be mind-controlled by the media that a weak yen is bad. A strong yen and a weak yen are both good and bad, but a weak yen is easier to leverage for policy. The media should report the facts properly. There is too much mood reporting (impressionistic criticism). I always wonder, “Is that so? and then I look up the supporting facts (figures from the past and other developed countries) and compare them.

Foreign investment in tourism and real estate will also be stimulated, and Ginza’s explosive growth is greater than expected.

Will there be an increase in startup investment in Japan from abroad?

Now is the time to implement policies to increase domestic employment and income.

In other words, we should be able to take more agile policies than a strong yen. Politicians, please, study the economy and make Japan “Great” again!

◆ Notes

Corporate income exceeds 79 trillion yen, a record high. Taxes are 75% of those during the bubble period, FY2009 – National Tax Agency
https://www.jiji.com/jc/article?k=2022103100804&g=eco

<Opinion> Corporate income is the highest in Japan, and the environment is ripe for higher wages: Tokyo Shimbun TOKYO Web
https://www.tokyo-np.co.jp/article/211517

Signs of a resurgence in “explosive buying” due to the weak yen, and even Nishikigoi priced at over 1 million yen are “on bargain sale”.
https://news.yahoo.co.jp/…/2812a83a54ea2be19c13c936d38e…

End Deflation after 30 Years of Rising Prices and Wages: Nihon Keizai Shimbun
https://www.nikkei.com/article/DGXZQOUA193CY0Z11C22A0000000

Japan’s Foreign Exchange Reserves Exceed $1 Trillion, 4 to 13 Times Greater Than G7 Countries, 90% of Foreign Exchange Special Interest Group: Tokyo Shimbun TOKYO Web
https://www.tokyo-np.co.jp/article/211227

Comparison of Price Increases in Japan, the U.S., and Europe – Japan’s Rate of Price Increases Exceeds 2%, but Differences from the U.S. and Europe at Around 9%? | Osamu Tanaka | The Dai-ichi Institute of Life Economics
https://www.dlri.co.jp/report/macro/193944.html