Jul 11, 2014

Third-quarter growth may pave way for second stage of tax hike

The economy is likely to grow between July and September at a pace consistent with plans to complete the doubling of the consumption tax to 10 percent in October 2015, a government-affiliated nonprofit group said in a survey. The Japan Center for Economic Research ...

Jul 10, 2014

Energy costs push wholesale prices up 4.6% in June

Wholesale prices climbed 4.6 percent in June from a year earlier, largely due to higher energy costs, the Bank of Japan said Thursday. In notching its 15th consecutive month of growth, the index of corporate goods prices came to 106.3 against the 2010 base ...

May machinery orders plunge a record 19.5%

Jul 10, 2014

May machinery orders plunge a record 19.5%

Japan’s core private-sector machinery orders plunged by a record 19.5 percent in May, the government said Thursday, indicating the first consumption tax hike in 17 years on April 1 is affecting the economic outlook by discouraging companies from beefing up investment. The orders, excluding ...

Output rises 0.8% in tax hike rebound

Jun 30, 2014

Output rises 0.8% in tax hike rebound

Industrial output recovered slightly in May from an earlier decline sparked by April’s sales tax hike, stabilizing as factories produced more machinery, vehicles and electronic devices, government data showed Monday. Factory output in the world’s third-largest economy climbed 0.8 percent in May from a ...

Jun 27, 2014

Tax Commission pursues levy on e-books, music bought online

The Tax Commission has released a draft that calls for imposing the consumption tax on online music and electronic books sold to consumers in Japan by overseas firms. Japan’s online distributors have complained that it is unfair that overseas rivals such as Amazon.com are ...

Prices climb most in 32 years as wages limp along

Jun 27, 2014

Prices climb most in 32 years as wages limp along

Consumer prices climbed in May at their fastest pace in 32 years, swelled by the hike in the consumption tax and higher utility charges that are squeezing Japanese budgets as wage gains remain limited. Consumer prices excluding fresh food but not energy, rose 3.4 ...

Stand firm on 10% sales tax, Noda warns Abe

Jun 11, 2014

Stand firm on 10% sales tax, Noda warns Abe

Prime Minister Shinzo Abe risks triggering market turmoil should he fail to raise the consumption tax to 10 percent next year, his immediate predecessor warned. The government needs to ride out the economic fallout from the first tax increase in April and then lift ...

Beer sales take limited tax-hike hit

May 14, 2014

Beer sales take limited tax-hike hit

Shipments of beer and related brewed drinks fell by 21 percent in April compared with a year earlier, to 29.4 million cases, data showed Wednesday. It was the biggest decline for any month since records began, in 1992, and it was the weakest ever ...