Aug 1, 2014

Japan must hike sales tax again to conquer debt, IMF says

Japan must raise its sales tax again to conquer one of the world’s heaviest public debt burdens, the International Monetary Fund said on Thursday, as it called for deep economic reforms. The recommendations, outlined in the Washington-based fund’s annual country report, come four months ...

Jul 25, 2014

LVMH profit trails estimates as Japan tax hike hits fashion biz

LVMH Moet Hennessy Louis Vuitton SA, the world’s largest luxury-goods company, reported first-half earnings that trailed estimates as the strength of the euro weighed on growth and the first stage of the Japanese tax hike hurt sales of fashion and leather goods. Profit from ...

Jun 14, 2014

Noda says Abe buying into 'voodoo economics'

by William Pesek

Sour grapes are in season in Tokyo as Prime Minister Shinzo Abe’s predecessor steps up and slams the incumbent’s tax plans. However, beneath the bad feelings and twinge of regret, Yoshihiko Noda makes a very timely point when he accuses Abe of buying into ...

BOJ steps up growth 'rhetoric'

May 31, 2014

BOJ steps up growth 'rhetoric'

Japan’s risk of spurring inflation without boosting the nation’s growth potential is raising the stakes for Prime Minister Shinzo Abe’s next round of economic restructuring measures, due in June. An economy “with low real growth rates under mild inflation” is possible, should the government ...

Mar 31, 2014

Manufacturing slumps as tax hike looms large

Japan’s industrial production fell in February, undercutting economists’ forecasts, as the first sales tax hike since 1997 risks stalling the economic recovery. Output fell 2.3 percent from the previous month, the steepest drop in eight months, the Ministry of Economy, Trade and Industry said ...

Stores looking to tourists for big sales

Mar 25, 2014

Stores looking to tourists for big sales

Many major department stores are zeroing in on foreign tourists and other visitors exempt from paying the consumption tax if they spend over a certain amount, anticipating that sales of luxury items will plunge following the sales tax hike next Tuesday. Department stores have ...