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 WHOLESALE PRICES ROSE BY 4.9 PERCENT IN MAY

Highlights –

• Japan’s wholesale prices rose by 4.9 percent in May.
• In April, wholesale prices increased 3.8 percent.
• Wholesale prices of petroleum and coal products surged 53.5 percent from a year earlier.
• Electricity,...

JAPAN’S CURRENT ACCOUNT SURPLUS ROSE TO $12 BILLION IN APRIL

Highlights –

• Japan’s current account surplus rose to $12 billion in April.
• April saw a larger rise in exports than in imports in terms of value.
• Imports jumped 11.3 percent to 6.54 trillion yen.
• Primary income, gained...

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...

JAPAN’S EXPORTS SAW LARGEST INCREASE BY 38% IN APRIL

Highlights –

• Japan’s exports saw largest increase by 38% in April.
• Exports of goods in April soared to 7.18 trillion yen.
• Imports rose 12.8 percent in April to 6.93 trillion yen.
• Exports to China grew 33.9 percent fro...

JAPAN’S ECONOMY FELL BY 4.6 PERCENT IN FY 2020 OVER PANDEMIC

Highlights –

• Japan’s economy fell by 4.6 percent in FY 2020 over pandemic.
• GDP in the January-March period shrank an annualized real 5.1 percent from the previous quarter.
• Exports of goods and services plummeted 10.4 percent.

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 ESTIMATES ECONOMIC LOSS OF $9.2 BILLION OVER VIRUS EMERGENCY

Highlights –

• Japan estimates economic loss of $9.2 billion over virus emergency.
• The government's decision to extend the emergency will have a negative impact of 600 billion yen.
• The Japanese economy is expected to have plunged in...

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...

JAPAN’S ECONOMY COULD LIKELY TAKE A HIT OF $36 BILLION

Highlights –

• Japan’s economy could likely take a hit of $36 billion.
• COVID-19 variant could cause Japan’s economy to fall again.
• With the spread of mutations, Tokyo could deal with over 1,400 daily infections in May.
...

JAPAN’S ECONOMY GREW 11.7 PERCENT IN OCT-DEC 2020

Highlights –

• Japan’s economy grew 11.7 percent in Oct-Dec 2020.
• The country’s real GDP expanded by a double-digit percentage for the 2nd quarter.
• Private consumption remained unchanged from rises of 2.2 percent.

JAPAN’S CPI DROPPED 0.6 PERCENT IN JANUARY 2021

Highlights –

• Japan’s CPI dropped 0.6 percent in January 2021.
• In December 2020 CPI declined 1.0 percent.
• Energy prices, in general, dropped 8.6 percent in January.
• Fees for hotels and other accommodation facilities in...

JAPAN'S ECONOMIC KEY INDEX FELL BY 1.2 POINTS IN DECEMBER 2020

Highlights –

• Japan's economic key index fell by 1.2 points in December 2020.
• The leading index of economic conditions declined 1.2 points to 94.9 in December.
• The economy reportedly had the largest fall in seven months in Dec...

JAPAN’S AVERAGE MONTHLY SPENDING BY HOUSEHOLDS FELL IN 2020 BY 5.3 PERCENT

Highlights –

• Japan’s average monthly spending by households fell in 2020 by 5.3 percent.
• In 2020 monthly household spending with two or more people averaged 277,926 yen.
• Spending on transportation and communication fell 8.6 perc...

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 BEGINS SPRING WAGE NEGOTIATIONS WITH EXPECTATION TO SLOW DOWN PAY INCREASES

Highlights –

• Japan begins spring wage negotiations with expectations to slow down pay increases.
• The Japanese Trade Union Confederations are expected to demand a pay hike.
• However, the Keidanren mentioned that pay hikes across the boa...