Mitsui OSK Chairman Takeshi Hashimoto targets 150-155 yen exchange rate, warns of Strait of Hormuz delays

Takeshi Hashimoto, chairman of Mitsui OSK Lines, stated that a yen-to-dollar exchange rate between 150 and 155 is comfortable for the world's largest tanker owner. Although a weaker yen helps Japanese exporters by increasing revenue value in dollars, Hashimoto warned that recent sharp swings confuse global financial markets. He expressed pessimism about a quick recovery for shipping through the Strait of Hormuz, citing Kpler data showing only ten commodity ships transited the waterway over the past ten days, the lowest figure since May. Simultaneously, Japanese investors face pressure to exit the yen carry trade as expectations grow that the Bank of Japan will raise rates next week. The strategy involves borrowing cheap yen to invest in higher-yielding assets abroad. While the yen climbed to a seven-month high, raising unwind fears, it had previously reached multi-decade lows before recent joint interventions by Tokyo and Washington stabilized it briefly at roughly 153 to the greenback.