Yen moves little in upper 161 yen range, intervention vigilance continues, Sukiya raises gyudon prices

NY yen moves little in upper 161 yen range, intervention vigilance continues In the New York foreign exchange market on the 3rd, the yen lacked direction in the upper 161 yen range against the dollar. With trading thin due to the U.S. Independence Day holiday, wariness over possible intervention by the Japanese government and Bank of Japan remained strong, and yen selling became dominant as a reaction to the yen's strengthening following the previous day's weaker-than-expected U.S. employment data. Finance Minister Katayama said 'the policy has not changed,' and the Chief Cabinet Secretary reiterated that they would monitor with a high sense of tension. 12345

Sukiya raises regular gyudon by 30 yen, imported beef soars due to weak yen Sukiya announced that from 9 a.m. on the 8th, it will raise the price of its flagship regular gyudon (beef bowl) from 450 yen to 480 yen. The main reason is the rise in procurement costs for imported beef due to the weak yen, and other menu items such as large size will also be raised by 30 yen. This is the second price increase in about 10 months since the price cut last September. 6

U.S. Micron invests 1.5 trillion yen in Hiroshima for cutting-edge memory production U.S. semiconductor giant Micron Technology held a groundbreaking ceremony for a new building, investing approximately 1.5 trillion yen to expand its cutting-edge memory production base in Hiroshima Prefecture. Aiming for mass production of DRAM to meet growing AI demand, this large-scale investment is expected to strengthen the competitiveness of Japan's domestic semiconductor industry. 7

Domestic routes struggle, airlines move to reduce flights due to sluggish business demand Major airlines are moving to full-scale schedule adjustments, including flight reductions, to maintain struggling domestic routes. The recovery of high-value business travelers, which plummeted during the pandemic, is slow, and rising fuel costs due to the Middle East situation are adding pressure. Major carriers like ANA Holdings are expected to see a significant drop in net profit for the fiscal year ending March 2027. The Ministry of Land, Infrastructure, Transport and Tourism is encouraging cooperation among airlines to maintain routes. 8