Washi Co (Sep 2018)

They are receiving Euros and therefore they will be selling euros and buying JPY. Therefore they are buying the 'first currency' and so the relevant rate is the first (lower) one). (I don't know why you write that 'usually banks are selling JPY'. The banks do what we ask them to and in this case we want them to sell Euros and buy JPY!)

You are welcome :-)