Critics worry about the impact of an already weak yen weakening further. Since the earthquake and tsunami of March 2011, Japan has been virtually without nuclear power. It therefore relies on imports to satisfy almost all its energy needs. At a time when real wages are already falling, the weaker yen has pushed up household energy costs by over a quarter. Big firms that export are benefiting, but the small and midsized businesses that employ most of Japan’s workers are being squeezed. A survey suggests four-fifths of such firms do not want the yen above ¥109 to the dollar. It is now ¥114.