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Wednesday, 29th October 2008
In Business In Japan,

Strong yen a bonus for consumers in Japan

Now could be the best time to bag a bargain while visiting Japan.

The strength of the yen has seen a wave of discounts being offered on imported goods in the country's shops and supermarkets, reports Reuters.

Recently, Japan's currency soared to 13-year high against the dollar.

One shopper told the broadcaster NTV: "As a housewife, this is the best possible news."

The development could lead to a boost in retail figures. Last month, supermarket sales dropped to 2.2 per cent compared to the same time last year.

A spokesman for Seven & I Holdings commented: "It's not that we can expect any immediate benefit from the change in exchange rates, but the customers expect us to have a sale."

Despite the strength of the yen, confidence among small businesses has slipped to a ten-year low, reports dailyfx.com.