A top shipping executive has cautioned that while a weaker yen benefits Japanese firms operating overseas, wild fluctuations in the currency could create significant risks for global markets.

Mitsui O.S.K. Lines (MOL) Chairman Takeshi Hashimoto, whose company ranks among the world's largest tanker owners and operators, noted that because the firm's revenue is primarily denominated in US dollars, a softer yen works in its favor. However, he expressed unease about the broader implications. "We are concerned that the weak yen could lead to turmoil in the financial markets," he said in an interview.

Hashimoto stated his preference for stability in the foreign exchange market, describing the 150 to 155 range for the dollar-yen pair as a "comfort zone." The yen has recently been trading around the 153 level.

Over the past few months, the currency has experienced intense volatility. In 2026, it plunged to multi-decade lows, prompting multiple rounds of intervention by Japanese authorities. Coordinated action between the US and Japan briefly managed to lift the yen before it weakened again.

Asked about the prospects for the Strait of Hormuz, Hashimoto expressed pessimism about a quick return to normal shipping conditions. "At this point, it is almost impossible for us to resume normalized shipping operations in the strait," he remarked.

Data from analytics firm Kpler on Monday showed that an average of just 10 commodity vessels per day passed through the Strait of Hormuz over the last ten days, marking the lowest level since May. Hashimoto said he hopes negotiations involving Iran and Persian Gulf nations such as Oman and Qatar could foster a "relatively positive outcome," but conceded that such progress "will take some time."