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BOJ Osaka branch head: Weak yen positive for western Japan firms
October 20, 2014 / 6:51 AM / 3 years ago

BOJ Osaka branch head: Weak yen positive for western Japan firms

TOKYO (Reuters) - The benefits of a weak yen on the economy outweigh the costs in the Kinki region of western Japan, the head of the central bank’s Osaka branch said on Monday.

The yen’s decline has boosted profits at big manufacturers in the region as well as companies in the leisure industry as it lured more foreign tourists, Atsushi Miyanoya, the Bank of Japan’s Osaka branch manager, told a news conference.

The BOJ’s Osaka branch overseas the Kinki western Japan region, which is home to big electronic makers like Panasonic.

Reporting by Leika Kihara; Editing by Chris Gallagher

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