Japanese exporters are calling for more action to weaken the near-record high yen even after government intervention prompted the currency's biggest drop since March.
"The exchange rate is at a level that has an extremely damaging effect on the Japanese economy," Osamu Masuko, president of Mitsubishi Motors Corp., said Thursday by email. He said he welcomed the intervention, "but the resulting exchange rate still isn't acceptable."
The yen Thursday touched 80 to the dollar for the first time since July 12 after the government sold the currency and the Bank of Japan added to monetary stimulus measures. That still may not be enough for exporters, including Mitsubishi Motors, Toyota Motor Corp. and Sony Corp., whose overseas earnings have been crimped by the currency's jump of about 8.6 percent in a year.
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