Japan's former Vice Finance Minister Shunsuke Kagawa dies

Aug 10, 2015

Japan's former Vice Finance Minister Shunsuke Kagawa dies

Former Vice Finance Minister Shunsuke Kagawa, who helped lay the groundwork for the April 2014 consumption tax hike, died of illness at a Tokyo hospital on Sunday, the Finance Ministry said. He was 58. The ministry did not disclose the cause of his death. ...

Razed dormitories in Tokyo being replaced by nurseries

Jul 26, 2015

Razed dormitories in Tokyo being replaced by nurseries

The Finance Ministry is helping to address the shortage of child day care facilities by allowing operators to use state-owned land. In June 2013, the government declared that reducing or eliminating the number of children on waiting lists was a priority policy. This prompted ...

Jul 7, 2015

Finance Ministry appoints Kazuho Tanaka as top bureaucrat

The Finance Ministry on Tuesday announced a reshuffle of its senior officials, with Budget Bureau chief Kazuho Tanaka becoming the top bureaucrat at what is effectively the most powerful government office in Japan. Tanaka, 59, who has also served as the Tax Bureau chief, ...

Jul 3, 2015

Fiscal 2014 tax revenue soars to highest in 21 years

The government said Friday that tax revenue in fiscal 2014 climbed to ¥54.0 trillion ($438.4 billion), the highest since 1993, thanks to a jump in corporate tax receipts and the first stage of the doubling of the consumption tax. Revenue climbed 14.9 percent on ...

May 8, 2015

Japanese government's debt swells to ¥1.053 quadrillion

Japan’s debt stood at a record-high ¥1.053 quadrillion ($8.78 trillion) at the end of March, the Finance Ministry said Friday, increasing pressure on the government to take further austerity measures. The ministry also projected the debt would reach ¥1.167 quadrillion by the end of ...

Dec 20, 2014

A better way to spend yen on schools

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Japan's Finance Ministry wants to increase the number of students in each class to save ¥8.6 billion in personnel costs. This will result in 3,325 schools being shuttered and up to 4,000 teachers cashiered. A good idea perhaps, but why not prioritize spending on ...