COVID-19 IMPACT: JAPAN WILLING TO PUMP MORE MONEY INTO ECONOMY

Highlights

• The Prime Minister Yoshihide Suga’s government has once again announced state of emergency in several prefectures

• This statement from Kato comes at a time when several lawmakers from the ruling Liberal Democratic Party are demanding a new stimulu...

JAPAN’S ECONOMY SHRANK IN JAN-MARCH PERIOD BY 3.9 PERCENT

Highlights –

• Japan’s economy shrank in Jan-March period by 3.9 percent.
• Real gross domestic product contracted 1.0 percent from the previous quarter.
• Government spending dropped 1.1 percent.
• Capital expenditure decrea...

BOJ’S TOTAL ASSESTS IN FISCAL 2020 ROSE TO $6.5 TRILLION

Highlights –

• BOJ’s total assets in fiscal 2020 rose to $6.5 trillion.
• Japanese government bonds were purchased massively as part of the ultraloose monetary policy.
• The total assets rose 604.48 trillion yen from the previous year...

JAPAN GOVT. DOWNGRADED ECONOMIC ASSESSMENT AS CONSUMPTION DAMPENS

Highlights –

• Japan govt. downgraded economic assessment as consumption dampens.
• The extended state of emergency over the coronavirus pandemic has led to the downgrade assessment.
•  Private consumption in April has shown a weak ton...

CORONAVIRUS PANDEMIC INCREASES JAPAN GOVT.’S DEBT TO $940 BILLION IN 2020

Highlights –

• Coronavirus pandemic increases Japan govt.’s debt to $940 billion in 2020.
• As of March 31, the outstanding balance meaning the debt per capita stood at 9.70 million yen.
• The nation's debt reportedly consisted of...

JAPAN EXPECTS ITS ECONOMY TO FALL BY 4.8% IN JAN-MARCH PERIOD

Highlights –

• Japan expects its economy to fall by 4.8% in Jan-March period.
• The Japanese Cabinet Office will release preliminary GDP data for this year's Q1 on May 18.
• The economic outlook for coming quarters remains unclear due t...

BOJ DOWNGRADED ECONMIC ASSESSMENTS OF TWO REGIONS IN THE COUNTRY

Highlights –

• BOJ downgraded economic assessments of two regions in the country.
• BOJ is worried about economic recovery from the pandemic which still remains fragile.
• The pandemic has dampened consumption, which accounts for more than...

TOYOTA MOTOR EXPECTS ITS GLOBAL OUTPUT TO INCREASE BY 9.2 MILLION IN 2021

Highlights –

• Toyota Motor expects its global output to increase by 9.2 million in 2021.
• The target is said to be higher than the current record of 9.05 million units in 2019.
• In 2020 Toyota's global output fell by half from a year...

JAPAN GOVT. TO SECURE 20,000 FREEZERS FOR HOSPITAL STORAGE OF COVID-19 VACCINES

Highlights –

• Japan govt. to secure 20,000 freezers for hospital storage of COVID-19 vaccines.
• The govt. will sign contracts with four freezer makers.
• Japan govt. has secured 310 million vaccine doses from Pfizer Inc., Moderna Inc., an...

JAPAN’S CONSUMER SPENDING IS EXPECTED TO FALL BY $19.3 BILLION

Highlights –

• Japan’s consumer spending is expected to fall by $19.3 billion.
• The loss would correspond to 0.40 percent of Japan's annual GDP in nominal terms.
• Japan's government has imposed a state of emergency in 11 pre...

BOJ GOVERNOR SUGGESTS COUNTRY’S ECONOMY SEVERE AND RECOVERY BE MODERATE

Highlights –

• BOJ Governor suggests country’s economy severe and recovery be moderate.
• Later in the day, BOJ is scheduled to release its quarterly Sakura report on regional economies.
• BOJ Governor Kuroda said the consumer price i...

BOJ TO ASSESS ITS ULTRALOOSE MONETARY POLICY FRAMEWORK

Highlights –

• BOJ to assess its ultraloose monetary policy framework.
• The BOJ plans on studying the side effects of its monetary policy in March.
• The central bank has maintained short-term interest rates at minus 0.1 percent.

BOJ SURVEY SHOWS BUSINESS SENTIMENT IMPROVES FOR THE 2ND QUARTER IN DECEMBER

Highlights –

• BOJ survey shows business sentiment improves for the 2nd quarter in December.
• The survey however is pessimistic due to rising COVID-19 cases in the country and otherwise.
• The index for large nonmanufacturers rose to minus...

ADDITIONAL $3.7 BILLION IN RESERVE FUNDS TO BE USED IN JAPAN TO FIGHT PANDEMIC

Highlights –

• Additional $3.7 billion in reserve funds to be used in Japan to fight the pandemic.
• The Cabinet Office on Friday decided to use the funds to extend the travel subsidy program.
• The emergency spending includes 311.93 billio...

JAPAN CABINET OFFICE SURVEY SHOWED BUSINESS CONFIDENCE WORSENED IN SEVEN MONTHS

Highlights –

• Japan Cabinet Office survey showed business confidence worsened in seven months.
• The diffusion index of sentiment among economy watchers came to 45.6 points.
• The points were down from 8.9 points from October.
• T...

JAPAN HAS COMPILED AN ADDITIONAL ECONOMIC PACKAGE WORTH $707 BILLION

Highlights –

• Japan has compiled an additional economic package worth $707 billion.
• The amount would be used to ease the economic impact of the pandemic.
• The package will include extensions of subsidy programs such as ‘Go To Trav...

JAPAN SHOWED AN UPGRADE IN ITS ECONOMY IN JULY-SEPTEMBER PERIOD BY 22.9%

Highlights –

• Japan showed an upgrade in its economy in July-September period by 22.9%.
• The country’s GDP was upgraded from the preliminary figure of 21.4%.
• The total value of goods and services after adjustment rose for the firs...

JAPAN ECONOMY RECOVERS IN JULY-SEPTEMBER QUARTER; GROWTH RATE OF 21.4%

Highlights –

• Japan economy recovers in July-September quarter; growth rate of 21.4%.
• Cabinet Office however mentioned that the economy has still not recovered entirely.
• July-September share prices were higher in Tokyo.
• Japa...

JAPAN GOVT. SURVEY SHOWED ECONOMY TREND IS STEADILY REBOUNDING

Highlights –

• Japan Govt. survey showed economy trend is steadily rebounding.
• Business sentiment among workers with jobs sensitive to economic trends rebounded.
• The diffusion index of confidence rose 5.2 points from September.
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SUGA INSTRUCTS TO COMPILE 3RD SUPPLEMENTARY BUDGET FOR FISCAL 2020

Highlights –

• Suga instructs cabinet ministers to compile 3rd supplementary budget for fiscal 2020.
• The economic stimulus package is to support the country’s economy.
• The extra budget will likely fund the government's “...