Japan's two major business lobbying groups urge the government to address the issue of the weak yen

According to foreign reports, Japan's two major business lobbying groups are calling on the Japanese government to address the issue of the weak yen, believing that the weak yen is driving up import costs, putting pressure on households and businesses.

Yoshinobu Tsutsui, president of the Japan Business Federation, stated that the weak yen is often valued for the benefits it brings, such as increasing exporters' profits. However, from the perspective of national strength, a strong yen will better enhance national power in the long run.

Last year, the Bank of Japan raised interest rates twice, but the yen continued to weaken and approached the level at which the Japanese government would intervene to defend the yen. Akira Kobayashi, president of the Japan Chamber of Commerce and Industry, indicated that due to the weak yen, the cost of raw materials for small and medium-sized enterprises is increasing, and believes that Japan's inflation is mainly due to the yen exchange rate, necessitating the government and the Bank of Japan to alleviate the pressure on small businesses importing raw materials from overseas