Japan's currency hit its weakest level in nearly 40 years

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• 00:01

  As Japan's yen drops to a 40-year low, one business tells us it's struggling to hang on.

• 00:06

  It's World Business Express from the BBC World Service.

• 00:09

  I'm Sarah Rogers.

• 00:13

  Also, our interest rate rises on the way.

• 00:16

  We ask a leader at the European Central Bank Forum.

• 00:19

  And a new deal for steel.

• 00:20

  The EU is about to introduce tighter rules.

• 00:29

  The Japanese government says it's ready to step in after the yen dropped

• 00:33

  to its lowest level against the dollar in almost four decades.

• 00:36

  It means imports like gas and oil become more expensive,

• 00:40

  which can drive up the rate at which prices rise and so people spend less.

• 00:45

  Rob Applin owns Benchmark, a small construction company in Tokyo.

• 00:49

  All our materials are imported, basically.

• 00:51

  That really affects the price of materials.

• 00:53

  It's really difficult, but I'm locked in on a lot of contracts at the moment that, you know, I set prices.

• 01:00

  Like six months ago.

• 01:01

  I can't change that at the moment.

• 01:03

  We're stuck within a rock and a hard place, I'd say.

• 01:05

  How much are you losing then?

• 01:07

  I'd say 10-15%.

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