Jul 22, 2016

Japan's fiscal health likely to worsen after tax hike delay

The government is likely to project a deteriorating primary balance deficit in fiscal 2018 after delaying the second stage of a consumption tax hike, government sources said Friday. The hike, earlier planned for April, will now take place in October 2019. Cabinet Office projections ...

60% of Japan's households feeling financial hardship

Jul 12, 2016

60% of Japan's households feeling financial hardship

Over 60 percent of households across Japan found themselves facing financial difficulties last year, according to a government survey. The proportion stood at 60.3 percent as of July 2015, the fourth-highest level since the survey started in 1986, the Health, Labor and Welfare Ministry ...

Jun 14, 2016

Fitch cuts outlook on government debt in wake of tax hike delay

Fitch Ratings on Monday slashed its outlook on Japanese government bonds to negative from stable, citing a lack of specific steps to achieve the country’s fiscal reform goal following another delay in the consumption tax hike. “The outlook revision primarily reflects Fitch’s decreased confidence ...

Jun 2, 2016

Moody's sees Japan's consumption tax hike delay as 'credit negative'

Moody’s Investors Service Inc. said Thursday that Prime Minister Shinzo Abe’s decision to postpone a hike in the consumption tax and compile a fiscal stimulus in the autumn is “credit negative,” questioning the government’s ability and willingness to achieve fiscal consolidation. The U.S. debt ...

Jun 1, 2016

Japan Inc. welcomes second deferment of consumption tax hike

Executives of some Japanese firms, especially retailers and food makers, have voiced support for a delay in the second-stage consumption tax hike to October 2019. Others, however, are calling for the hike, from 8 percent to 10 percent, to go ahead in April 2017 as scheduled, citing ...