Japan’s low interest-rate environment has lately been the biggest driver of a weakening yen. This dual-edged sword presents a challenge to residents of Japan and to businesses experiencing a reduction in purchasing power along with inflationary pressures. What is the outlook for business activity and consumer markets in this macro-environment? Have markets priced in a cheaper yen? And have foreign investments increased? Where might businesses find new opportunities for growth as Japan transitions out of a low capital cost environment?