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Staff from housekeeping services provider Bears. While a severe labor shortage in Japan means many companies are keen to hire from overseas, comparatively low wages and the historically weak yen are blunting the country's appeal. (Photos by Yuji Murakami and Ryosuke Matsui)
Asia Insight

Japan's new enemy in fight to lure immigrant workers: The tumbling yen

Visa rules eased, but currency weakness tarnishes Japan's appeal for overseas hires

AKANE OKUTSU and TAMAYO MUTO, Nikkei staff writers | Japan

TOKYO -- At a nearly 40-year low versus the dollar, the yen and its sharp weakening are exercising the minds of Japanese government officials and central bankers racing to come up with an urgent, cogent policy response.

Households in Japan face a 90,000 yen ($570) jump in annual expenses from higher prices for food and energy imports, one estimate shows, as the currency's skid drains purchasing power.

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