Japan Business Leader Calls on Government to Act More on FX

The leader of one of Japan’s biggest business groups representing smaller firms called on the Japanese government to take more action on currencies, warning that the weak yen is squeezing smaller companies and putting wage hikes at risk.

“The current yen level is excessively weak,” Ken Kobayashi, chairman of the Japan Chamber of Commerce and Industry, said in an interview Friday. “Authorities should focus more on currencies,” he said, adding that an exchange rate of around 130 yen per dollar would be ideal, citing corporate surveys.