Japanese Textile Machinery The Industry Regains Vigor With the Weak Yen Working as a Tailwind

摘要

The abnormal appreciation of the Japanese currency that lasted until 2012 inflicted considerable damage to Japanese export industries. Textile machinery was no exception. For Japanese textile machinery manufacturers whose source of revenue is exports to China and other emerging economies, the strong yen up to last year must have been a nightmare. But the winds have changed in 2013. The appearance of Prime Minister Shinzo Abe with the change of government has brought dramatic monetary easing measures known as 'Abenomics". A revision of the strong yen began suddenly. And Haruhiko Kuroda, who became Governor of the Bank of Japan under the new administration, embarked on monetary easing measures of a "different dimension" in the form of mass-purchases of Japanese government bonds.