Foreign Exchange Risk Management of Japanese Firms: Rationality, Strategy, and Currency Choice Puzzles

Author(s)/Editor(s) Written by SHIMIZU Junko, ITO Takatoshi, KOIBUCHI Satoshi, SATO Kiyotaka
Publisher Nikkei Publishing Inc.
ISBN 978-4-532-13518-8
Publication Date September 2021

Table of Contents

Japan has one of the world's leading manufacturing industries and the yen is an international currency, and therefore why is it that the share of imports and exports denominated in dollars is higher than that denominated in yen? This book is the culmination of an unparalleled and valuable research project that began in 2007 with interviews, questionnaires, and analysis of Japanese firms undertaken to unravel the puzzles.

Introduction: Solving the Puzzles of Invoice Currency Choice among Japanese Firms
Chapter 1: Why is Invoice Currency Choice Important?
Chapter 2: Invoice Currency Choice of Japanese Firms based on the RIETI Questionnaire Survey with Japanese Firms and Overseas Subsidiaries
Chapter 3: Myths about Foreign Exchange Risk Management of Japanese Firms and Reality
Chapter 4: Foreign Exchange Strategies of Japanese Overseas Subsidiaries
Chapter 5: The Future of the Dollar as a Key Currency in Asia
Chapter 6: Global Trade Restructuring in the Post Covid-19 Era and the Future of Invoice Currency