Mitsui OSK Lines Chairman Seeks Stable Yen Amid Volatility

The chairman of Japanese shipping giant Mitsui OSK Lines has expressed concerns about the volatile yen's impact on global markets. Takeshi Hashimoto, a top shipping executive, said that while a weak yen is beneficial for companies doing business abroad, its huge swings can create problems.

Mitsui OSK's revenue is mainly in US dollars, which means it benefits from a depreciating yen, Hashimoto explained. However, he emphasized the need for a stable currency market, citing a comfortable range of 150-155 yen to the greenback as his ideal target.

The yen has experienced sharp fluctuations in recent months, hitting multi-decade lows in 2026 before being strengthened by interventions from Tokyo and Washington. Hashimoto expressed pessimism about the recovery of shipping in the Strait of Hormuz, stating that it is 'almost impossible' to resume normal services for the time being.