Japan business lobby to discuss negative impact of weak yen -Yomiuri

TOKYO (Reuters) – Japan’s top business lobby Keidanren will discuss at next month’s executive meeting the potential negative impact of the yen’s weakness on the economy, the Yomiuri newspaper reported on Tuesday.

Keidanren, which is comprised of major companies including big automakers and electronics firms, traditionally favoured a weak yen and have called on the government to stave off sharp yen rises that make Japan’s exports less competitive overseas.

Any discussion on the demerits of a weak yen by Keidanren would highlight a shift in how Japan’s business sector views the currency’s movement and its impact on the economy.

The informal executive meeting, to be held on Dec. 4, reflects growing concern by some member companies over those demerits, and will likely affect the lobby’s policy proposals in the future, the Yomiuri said without citing sources.

The shift in Keidanren’s stance could heighten calls by the business sector for the Bank of Japan to end ultra-low interest rates that have been blamed for accelerating the yen’s decline, the newspaper said.

Keidanren was not immediately available to comment when contacted by Reuters.

(Reporting by Leika Kihara and Tetsushi Kajimoto; Editing by Christopher Cushing)