Jump to content

Economy of Japan

From Wikipedia, the free encyclopedia

Economy of Japan
Tokyo, the financial center of Japan
CurrencyJapanese yen (JPY, ¥)
1 April – 31 March
Trade organizations
APEC, WTO, CPTPP, RCEP, OECD, G-20, G7 and others
Country group
Statistics
PopulationDecrease 122,631,432 (2024)[5]
GDP
GDP rank
GDP growth
  • 1.9% (2023)
  • 0.9% (2024) (forecast)[6]
GDP per capita
  • Decrease $32,859 (nominal; 2024)[6]
  • Increase $53,059 (PPP; 2024)[6]
GDP per capita rank
GDP by sector
GDP by component
  • Household consumption: 55.6%
  • Government consumption: 21.6%
  • Investment in fixed capital: 26.0%
  • Investment in inventories: 0.6%
  • Exports of goods and services: 21.5%
  • Imports of goods and services: −25.3%
  • (2022 est.)[7]
3.1%
Population below poverty line
16.1% (2013)[7]
33.8 medium (2021)[8]
Decrease 73 out of 100 points (2023)[10] (rank 16th)
Labor force
  • Decrease 69.349 million (2023 est.)[11]
  • Increase 61.2% employment rate (May 2023)[12]
Labor force by occupation
Unemployment
  • Positive decrease 2.6% (2023)[11]
  • Positive decrease 3.7% youth unemployment (15 to 24 year-olds; May 2023)[11]
  • Positive decrease 1.8 million unemployed (May 2023)[11]
Average gross salary
¥429,501 / US$3,267.16 monthly[14] (2022)
Main industries
External
ExportsIncrease $717.94 billion (2023)[15]
Export goods
Main export partners
ImportsDecrease $784.06 billion (2023)[15]
Import goods
Main import partners
FDI stock
  • Decrease Inward: $25 billion (2021)[16]
  • Increase Outward: $147 billion (2021)[16]
Decrease $58.108 billion (2022)[17]
Negative increase $4.54 trillion (March 2023)[18]
(103.2% of GDP)
Public finances
  • Negative increase ¥1.457 quadrillion
  • Negative increase 263.9% of GDP (2022)[17]
1.35% of GDP (2022 est.)[17]
Revenues¥196,214 billion[17]
35.5% of GDP (2022)[17]
Expenses¥239,694 billion[17]
43.4% of GDP (2022)[17]
Economic aiddonor: ODA, $10.37 billion (2016)[19]
  • Scope Ratings:[22]
  • A
  • Outlook: Stable
Decrease US$1.255 trillion (September 2024)[23]
All values, unless otherwise stated, are in US dollars.


The economy of Japan is a highly developed mixed economy, often referred to as an East Asian model.[24] It is the fourth-largest economy in the world by nominal GDP behind the United States, China, and Germany, and the fifth-largest by purchasing power parity (PPP), below India and Russia.[25] It constituted 4.2% of the world's economy on a nominal basis in 2022.[26] According to the IMF, the country's per capita GDP (PPP) was at $53,059 (2024).[6][27] Due to a volatile currency exchange rate, Japan's nominal GDP as measured in American dollars fluctuates sharply.

Being a founding member of the G7 and an early member of the OECD, Japan was the first country in Asia to achieve developed country status. In 2018, Japan was the fourth-largest in the world both as an importer and as an exporter.[28] The country also has the world's fourth-largest consumer market.[29] Japan used to run a considerable trade surplus, but the decline of the manufacturing sector since the 1980s and increased fossil fuel imports after the Fukushima nuclear disaster in 2011 have changed this trend in recent years.[30][31] Being the world's largest creditor nation,[32][33][34] Japan has a considerable net international investment surplus. The country has the world's second-largest foreign-exchange reserves, worth $1.4 trillion.[35] Japan has the third-largest financial assets in the world, valued at $12 trillion, or 8.6% of the global GDP total as of 2020.[36][37] Japan has a highly efficient and strong social security system, which comprises roughly 23.5% of GDP.[4][38][3] The Tokyo Stock Exchange is the world's fifth-largest stock exchange by market capitalisation.[39][40]

Japan has a highly service-dominated economy, which contributes approximately 70% of GDP, with most of the remainder coming from the industrial sector.[41] The automobile manufacturing industry, which is the second largest in the world, dominates the industrial sector, with Toyota being the world’s largest manufacturer of cars.[42] Japan is often ranked among the world’s most innovative countries, leading several measures of global patent filings. However, its manufacturing industry has lost its world dominance since the 1990s. In 2022, Japan spent around 3.7% of GDP on research and development. As of 2022, 47 of the Fortune Global 500 companies are based in Japan.[43]

Long having been an agricultural country, one study estimates that Japan’s economy was among the top ten in the world by size during the second millennium before the industrial revolution started.[44] Industrialisation in Japan began in the second half of the 19th century with the Meiji Restoration, initially focusing on the textile industry and later on heavy industries. The country rapidly built its colonial empire and the third most powerful navy in the world. After the defeat in the Second World War, Japan’s economy recovered and developed further rapidly, primarily propelled by its lucrative manufacturing exporting industries.[45] It became the second largest economy in the world in 1968 and remained so until 2010,[26] and on a nominal per capita basis, the most high-income among the G7 countries in the 1980s and 1990s.[46] The Plaza Accord in 1985, an agreement among major economies to devalue the American dollar relative to several major currencies, led to a rapid appreciation of the yen.[47][48][49] In 1995, Japan’s share of the world’s nominal GDP was 17.8%, reaching approximately 71% of that of the United States.[26]

Driven by speculative investments and excessive lending, the Japanese asset price bubble of the early 1990s burst, triggering a prolonged period of economic stagnation marked by deflation and persistently low or negative growth, now known as the Lost Decades. From 1995 to 2007, the country’s GDP fell from $5.33 trillion to $5.04 trillion in nominal terms.[50] At the beginning of the 21st century, the Bank of Japan set out to encourage economic growth through a novel policy of quantitative easing, aiming to end deflation and eventually achieve 2% inflation.[51] The increased international economic tension brought about by events such as the Russian invasion of Ukraine in 2022 finally helped the country achieve the inflation target, and the negative interest policy since 2016 was ended in March 2024.[52][53]

As of 2021, Japan has significantly higher levels of public debt than any other developed nations at approximately 260% of GDP.[54][55] 45% of this debt is held by the Bank of Japan, and most of the remainder is also held domestically.[54] The Japanese economy faces considerable challenges posed by an ageing and declining population, which peaked at 128.5 million people in 2010 and has fallen to 122.6 million people in 2024.[56] In 2022, the country's working age population consisted of approximately 59.4% of the total population, which was the lowest rate among all the OECD countries.[57] Projections show that the population will continue to fall, potentially to below 100 million by the middle of the 21st century.[58][59]

History

[edit]
Main article: Economic history of Japan

The economic history of Japan is one of the most studied. Major milestones in modern Japan's economic progress include:

  • The foundation of the Tokugawa shogunate based in Edo (in 1603), initiating a period of internal economic development.
  • The Meiji Restoration (in 1868) leading to Japan becoming the first non-European modern world power.
  • Japan's defeat in World War II (in 1945), after which the island nation rose to become the world's second-largest economy.
  • The Lost Decades (the 1990s, 2000s and arguably 2010s), during which the country struggled to get out of deflation and extremely low or negative growth.

Edo period (1603–1868)

[edit]
An 1856 ukiyo-e depicting Echigoya, the current Mitsukoshi

The beginning of the Edo period coincides with the last decades of the Nanban trade period, marked by intense interaction with European powers. Japan built its first Western-style warships, such as the San Juan Bautista, and commissioned around 350 Red Seal Ships for intra-Asian commerce. Japanese adventurers, such as Yamada Nagamasa, were active throughout Asia.[60]

To eradicate Christian influence, Japan entered a period of isolation called sakoku in the 1630s, which led to economic stability and mild progress. In the 1650s, Japanese export porcelain production increased significantly due to a civil war in China, mainly in Kyushu.[61] This trade dwindled by the 1740s under renewed Chinese competition but resumed after Japan’s mid-19th century opening.

Economic development during the Edo period included urbanisation, increased commodity shipping, and expanded domestic and foreign commerce. The construction trades, banking facilities, and merchant associations flourished. Daimyō-led authorities (han) oversaw rising agricultural production and rural handicrafts. By the mid-18th century, Edo had a population of over 1 million, while Osaka and Kyoto each had more than 400,000 inhabitants, becoming centres for trade and handicraft production.[62] Rice, the economy’s base, was taxed at about 40% of the harvest and sold at the fudasashi market in Edo. Daimyō used forward contracts similar to modern futures trading to sell rice before harvest.[63]

During the sakoku period, Japan studied Western sciences and techniques (rangaku) through Dutch traders in Dejima, including geography, medicine, natural sciences, astronomy, and mechanical sciences. Japan reopened its economy to the West after being pressured by the United States twice in 1853 and 1854.[64]

Pre-war period (1868–1945)

[edit]

Since the mid-19th century, after the Meiji Restoration, the country was opened up to Western commerce and influence and went through a period of economic development that extended through to the First World War.[65] Economic developments of the prewar period began with the "Rich State and Strong Army Policy" by the Meiji government. During the Meiji period (1868–1912), leaders inaugurated a new Western-based education system for all young people, sent thousands of students to Europe and the United States, and hired more than 3,000 Westerners to teach modern science, mathematics, technology, and foreign languages in Japan (Oyatoi gaikokujin). The government also built an extensive railway network, improved roads, and inaugurated a land reform program to prepare the country for further development.[66]

To promote industrialization, the government decided that, while it should help private business to allocate resources and to plan, the private sector was best equipped to stimulate economic growth. The greatest role of government was to help provide good economic conditions for business. In short, government was to be the guide and business the producer. In the early Meiji period, the government built factories and shipyards that were sold to entrepreneurs at a fraction of their value. Many of these businesses grew rapidly into the larger conglomerates such as Mitsubishi. Government emerged as chief promoter of private enterprise, enacting a series of pro-business policies.[67]

Post-war period (1945–1989)

[edit]
See also: Japanese economic miracle and Economic history of Japan
Japanese exports partners in 2005

Japan underwent significant economic transformation and rapid recovery and growth, emerging from the devastation of the Second World War to become a global economic powerhouse. The immediate post-war period saw Japan slowly recovering as a democratic nation under the Allied Occupation. The Korean War (1950-1953), which happened in its now divided former colony, boosted the economy, as Japan served as a major supply hub for U.S. forces. By the 1950s and 1960s, Japan’s economy had entered a period of high growth, often referred to as the 'Japanese Economic Miracle'. Key factors in this growth included government-industry cooperation, a strong work ethic, advanced technology, and a focus on export-oriented manufacturing. Japan’s economy diversified from textiles to steel, shipbuilding, and eventually electronics and automobiles, with companies such as Toyota, Sony, Hitachi and Honda becoming household names worldwide.[68]

In 1968, Japan became the world’s second-largest economy, a position it held until it was surpassed by China in 2010. The government played a crucial role through policies that promoted industrial expansion and technological advancement. Japan’s emphasis on quality control and continuous improvement (kaizen) further boosted its international competitiveness.[69] By the 1980s, Japan was leading in a wide range of industries, including automotive and consumer electronics, and was known for its formidable trade surplus and wealth.[70] However, the late 1980s also saw the infamous Plaza Accord and the formation of an asset price bubble, with inflated real estate and stock market prices, setting the stage for the economic stagnation of the 'Lost Decades' that followed.

Heisei period (1989–2019)

[edit]
Japan's nominal GDP per capita stagnated around $40,000 for the entire period.
Japan bonds
Inverted yield curve in 1990
Zero interest-rate policy started in 1995
  30 year
  20 year
  10 year
  5 year
  2 year
  1 year
Japan money supply and inflation (year over year)
  M2 money supply
  Inflation

Growth slowed markedly in the late 1990s also termed the Lost Decade after the collapse of Japanese asset price bubble. As a consequence Japan ran massive budget deficits (added trillions in Yen to Japanese financial system) to finance large public works programs.

By 1998, Japan's public works projects still could not stimulate demand enough to end the economy's stagnation. In desperation, the Japanese government undertook "structural reform" policies intended to wring speculative excesses from the stock and real estate markets. Unfortunately, these policies led Japan into deflation on numerous occasions between 1999 and 2004. The Bank of Japan used quantitative easing to expand the country's money supply in order to raise expectations of inflation and spur economic growth. Initially, the policy failed to induce any growth, but it eventually began to affect inflationary expectations. By late 2005, the economy finally began what seems to be a sustained recovery. GDP growth for that year was 2.8%, with an annualized fourth quarter expansion of 5.5%, surpassing the growth rates of the US and European Union during the same period.[71] Unlike previous recovery trends, domestic consumption has been the dominant factor of growth.

Japanese bond market
Negative interest rates started in 2014.
  40 year bond
  10 year bond
  5 year bond
  1 year bond
  1 month bond

Despite having interest rates down near zero for a long period of time, the quantitative easing strategy did not succeed in stopping price deflation.[72] This led some economists, such as Paul Krugman, and some Japanese politicians, to advocate the generation of higher inflation expectations.[73] In July 2006, the zero-rate policy was ended. In 2008, the Japanese Central Bank still had the lowest interest rates in the developed world, but deflation had still not been eliminated[74] and the Nikkei 225 has fallen over approximately 50% (between June 2007 and December 2008). However, on 5 April 2013, the Bank of Japan announced that it would be purchasing 60–70 trillion yen in bonds and securities in an attempt to eliminate deflation by doubling the money supply in Japan over the course of two years. Markets around the world have responded positively to the government's current proactive policies, with the Nikkei 225 adding more than 42% since November 2012.[75] The Economist has suggested that improvements to bankruptcy law, land transfer law, and tax laws will aid Japan's economy. In recent years, Japan has been the top export market for almost 15 trading nations worldwide.

In December 2018, a free trade agreement between Japan and the European Union was cleared to commence in February 2019. It creates the world's largest free trade zone valued at 1/3rd of global gross domestic product. This reduces tariffs on Japanese cars by 10%, duties by 30% on cheese and 10% on wines and opens service markets.[76]

Reiwa period (2020–present)

[edit]

2020–21 recession

[edit]

In early January 2020, Japanese economy began to suffer from the COVID-19 pandemic. In early April, Japanese Prime Minister Shinzo Abe announced a state of emergency.[77][78] Less than a quarter of Japanese people expected living conditions to improve in the coming decades.[79] In October 2020 during the pandemic, Japan and the United Kingdom formally signed the first free-trade agreement post-Brexit, which will boost trade by approximately £15.2 billion. It enables tariff-free trade on 99% of exports to Japan.[80][81] On 15 February 2021, the Nikkei average breached the 30k benchmark, the highest since November 1991.[82] It was due to strong corporate earnings, GDP data and optimism over the COVID-19 vaccination program in the country.[82]

Post-recession (2021–present)

[edit]

At the end of March 2022, the Ministry of Finance announced that the national debt reached precisely 1.017 million billion yen.[83] The total public debt of the country, which includes debts contracted by local governments, represents 1.210 million billion yen (9,200 billion dollars) which is nearly 250% of Japan's GDP.[83] Economist Kohei Iwahara said such an exceptional debt to GDP level is only possible because Japanese hold most of the debt: "“Japanese households hold most of their savings in bank accounts (48%) and these sums are used by commercial banks to buy Japanese government bonds. Thus, 85.7% of these bonds are held by Japanese investors.”[83]

The Bank of Japan's main policy aim since the Lost Decades started had been to end deflation and eventually achieve 2% inflation.[51] The increased international economic tension brought about by events such as the Russian Invasion of Ukraine in 2022 finally helped the country achieve the much-anticipated inflation target of 2%, and the negative interest policy since 2016 was ended in March 2024.[52][53] However, while other major economies focus on suppressing inflation by raising interest rates, Japan aims to firmly establish inflation by maintaining low rates. As a side effect, the Japanese yen has become extremely weak, hitting a 37.5-year low of 161 yen/USD in July 2024.[84][85] Furthermore, the real effective exchange rate in May 2024, when the 2020 average is set at 100, is 68.65, the lowest level since the start of the Bank of Japan statistics in January 1970, due to a combination of low inflation in Japan and a relatively low trade share.[86][87][88][89] This devaluation of the currency caused Japan to lose its status as the world’s third largest economy to Germany in nominal terms, which was approximately half the size of the country's economy a decade earlier.[90][91][92] The Asahi Shimbun and other media outlets also reported that the impact of these sharp falls in the value of the currency had turned the Japanese yen into a junk currency.[93][94][95]

Factors such as an apparent end to the 30-year struggle against deflation, improvements in corporate governance, and high corporate profits boosted the stock market. Consequently, both the Nikkei 225 and TOPIX indices surpassed the record highs they reached more than 30 years ago in 2024. The market capitalisation of the Tokyo Stock Exchange’s prime section exceeded a quadrillion yen for the first time in July 2024.[96]

Macro-economic trend

[edit]

GDP composition

[edit]

Industries by GDP value-added 2012.[97] Values are converted using the exchange rate on 13 April 2013.[98]

Industry GDP value-added billions 2018 % of total GDP
Other service activities 1,238 23.5%
Manufacturing 947 18.0%
Real estate 697 13.2%
Wholesale and retail trade 660 12.5%
Transport and communication 358 6.8%
Public administration 329 6.2%
Construction 327 6.2%
Finance and insurance 306 5.8%
Electricity, gas and water supply 179 3.4%
Government service activities 41 0.7%
Mining 3 0.1%
Total 5,268 100%

Development of main indicators

[edit]
Real GDP growth rate

The following table shows the main economic indicators in 1980–2021 (with IMF staff estimates in 2024–2029). Inflation under 5% is in green.[99]

Year GDP

(in Bil. US$PPP)

GDP per capita

(in US$ PPP)

GDP

(in Bil. US$nominal)

GDP per capita

(in US$ nominal)

GDP growth

(real)

Inflation rate

(in Per cent)

Unemployment

(in Per cent)

Government debt

(in % of GDP)

1980 1,068.1 9,147.0 1,127.9 9,659.0 Increase3.2% Negative increase7.8% 2.0% 47.8%
1981 Increase1,218.4 Increase10,358.1 Increase1,243.8 Increase10,574.4 Increase4.2% Increase4.9% Negative increase2.2% Negative increase52.9%
1982 Increase1,336.5 Increase11,283.0 Decrease1,157.6 Decrease9,772.8 Increase3.3% Increase2.8% Negative increase2.4% Negative increase57.8%
1983 Increase1,437.8 Increase12,054.5 Increase1,268.6 Increase10,636.5 Increase3.5% Increase1.9% Negative increase2.7% Negative increase63.6%
1984 Increase1,556.7 Increase12,967.1 Increase1,345.2 Increase11,205.4 Increase4.5% Increase2.3% Steady2.7% Negative increase65.6%
1985 Increase1,690.0 Increase13,989.8 Increase1,427.4 Increase11,815.8 Increase5.2% Increase2.0% Positive decrease2.6% Negative increase68.3%
1986 Increase1,781.4 Increase14,667.9 Increase2,121.3 Increase17,466.7 Increase3.3% Increase0.6% Negative increase2.8% Negative increase74.0%
1987 Increase1,911.8 Increase15,666.3 Increase2,584.3 Increase21,177.8 Increase4.7% Increase0.1% Negative increase2.9% Negative increase75.7%
1988 Increase2,113.5 Increase17,246.0 Increase3,134.2 Increase25,575.1 Increase6.8% Increase0.7% Positive decrease2.5% Positive decrease71.8%
1989 Increase2,303.0 Increase18,719.6 Decrease3,117.1 Decrease25,336.2 Increase4.9% Increase2.3% Positive decrease2.3% Positive decrease65.5%
1990 Increase2,506.1 Increase20,302.7 Increase3,196.6 Increase25,896.0 Increase4.9% Increase3.1% Positive decrease2.1% Positive decrease63.0%
1991 Increase2,679.4 Increase21,620.8 Increase3,657.3 Increase29,511.8 Increase3.4% Increase3.3% Steady2.1% Positive decrease62.2%
1992 Increase2,763.7 Increase22,222.4 Increase3,988.3 Increase32,069.1 Increase0.8% Increase1.7% Negative increase2.2% Negative increase66.6%
1993 Increase2,814.6 Increase22,558.2 Increase4,544.8 Increase36,425.2 Decrease-0.5% Increase1.3% Negative increase2.5% Negative increase72.7%
1994 Increase2,899.9 Increase23,177.4 Increase4,998.8 Increase39,953.2 Increase0.9% Increase0.7% Negative increase2.9% Negative increase84.4%
1995 Increase3,038.6 Increase24,224.0 Increase5,545.6 Increase44,210.2 Increase2.6% Increase-0.1% Negative increase3.2% Negative increase92.5%
1996 Increase3,191.2 Increase25,385.0 Decrease4,923.4 Decrease39,164.3 Increase3.1% Increase0.1% Negative increase3.4% Negative increase98.1%
1997 Increase3,278.1 Increase26,014.1 Decrease4,492.4 Decrease35,651.3 Increase1.0% Increase1.7% Steady3.4% Negative increase105.0%
1998 Decrease3,272.8 Decrease25,903.3 Decrease4,098.4 Decrease32,436.9 Decrease-1.3% Increase0.7% Negative increase4.1% Negative increase116.0%
1999 Increase3,307.9 Increase26,131.3 Increase4,636.0 Increase36,622.9 Decrease-0.3% Increase-0.3% Negative increase4.7% Negative increase129.5%
2000 Increase3,476.3 Increase27,409.2 Increase4,968.4 Increase39,173.0 Increase2.8% Increase-0.7% Steady4.7% Negative increase135.6%
2001 Increase3,568.4 Increase28,068.3 Decrease4,374.7 Decrease34,410.7 Increase0.4% Increase-0.7% Negative increase5.0% Negative increase145.1%
2002 Increase3,625.5 Increase28,457.7 Decrease4,182.8 Decrease32,832.3 Increase0.0% Increase-0.9% Negative increase5.4% Negative increase154.1%
2003 Increase3,753.8 Increase29,410.9 Increase4,519.6 Increase35,410.2 Increase1.5% Increase-0.3% Positive decrease5.2% Negative increase160.0%
2004 Increase3,938.9 Increase30,836.4 Increase4,893.1 Increase38,307.1 Increase2.2% Increase0.0% Positive decrease4.7% Negative increase169.5%
2005 Increase4,135.7 Increase32,372.7 Decrease4,831.5 Decrease37,819.1 Increase1.8% Increase-0.3% Positive decrease4.4% Negative increase174.3%
2006 Increase4,321.8 Increase33,831.1 Decrease4,601.7 Decrease36,021.9 Increase1.4% Increase0.3% Positive decrease4.1% Positive decrease174.0%
2007 Increase4,504.5 Increase35,257.9 Decrease4,579.7 Decrease35,847.2 Increase1.5% Increase0.0% Positive decrease3.8% Positive decrease172.8%
2008 Increase4,534.6 Increase35,512.2 Increase5,106.7 Increase39,992.1 Decrease-1.2% Increase1.4% Negative increase4.0% Negative increase180.7%
2009 Decrease4,303.9 Decrease33,742.5 Increase5,289.5 Increase41,469.8 Decrease-5.7% Increase-1.3% Negative increase5.1% Negative increase198.7%
2010 Increase4,534.1 Increase35,535.2 Increase5,759.1 Increase45,135.8 Increase4.1% Increase-0.7% Steady5.1% Negative increase205.7%
2011 Increase4,629.4 Increase36,215.1 Increase6,233.1 Increase48,760.9 Increase0.0% Increase-0.3% Positive decrease4.6% Negative increase219.1%
2012 Increase4,799.6 Increase37,628.8 Increase6,272.4 Increase49,175.1 Increase1.4% Increase0.0% Positive decrease4.3% Negative increase226.1%
2013 Increase5,021.6 Increase39,436.8 Decrease5,212.3 Decrease40,934.8 Increase2.0% Increase0.3% Positive decrease4.0% Negative increase229.6%
2014 Increase5,034.5 Increase39,604.1 Decrease4,897.0 Decrease38,522.8 Increase0.3% Increase2.8% Positive decrease3.6% Negative increase233.5%
2015 Increase5,200.9 Increase40,959.3 Decrease4,444.9 Decrease35,005.7 Increase1.6% Increase0.8% Positive decrease3.4% Positive decrease228.3%
2016 Decrease5,159.7 Decrease40,640.5 Increase5,003.7 Increase39,411.4 Increase0.8% Increase-0.1% Positive decrease3.1% Negative increase232.4%
2017 Increase5,248.4 Increase41,409.0 Decrease4,930.8 Decrease38,903.3 Increase1.7% Increase0.5% Positive decrease2.8% Positive decrease231.3%
2018 Increase5,403.2 Increase42,714.6 Increase5,040.9 Increase39,850.3 Increase0.6% Increase1.0% Positive decrease2.4% Negative increase232.4%
2019 Increase5,471.8 Increase43,351.0 Increase5,118.0 Increase40,548.0 Decrease-0.4% Increase0.5% Steady2.4% Negative increase236.4%
2020 Decrease5,314.1 Decrease42,226.3 Decrease5,055.6 Decrease40,171.9 Decrease-4.1% Increase0.0% Negative increase2.8% Negative increase258.3%
2021 Increase5,700.0 Increase45,416.0 Decrease5,034.6 Decrease40,114.3 Increase2.6% Increase-0.2% Steady2.8% Positive decrease253.9%
2022 Increase6,159.8 Increase49,210.6 Decrease4,256.4 Decrease34,004.7 Increase1.0% Increase2.5% Positive decrease2.6% Negative increase257.2%
2023 Increase6,507.1 Increase52,214.6 Decrease4,212.9 Decrease33,805.9 Increase1.9% Increase3.3% Steady2.6% Positive decrease252.4%
2024 Increase6,721.0 Increase54,183.9 Decrease4,110.5 Decrease33,138.2 Increase0.9% Increase2.2% Positive decrease2.5% Negative increase254.6%
2025 Increase6,908.4 Increase55,970.4 Increase4,310.4 Increase34,921.6 Increase1.0% Increase2.1% Steady2.5% Positive decrease252.6%
2026 Increase7,094.9 Increase57,778.4 Increase4,499.5 Increase36,642.7 Increase0.8% Increase2.0% Steady2.5% Positive decrease251.3%
2027 Increase7,271.8 Increase59,538.8 Increase4,649.1 Increase38,064.8 Increase0.6% Increase2.0% Steady2.5% Positive decrease251.0%
2028 Increase7,451.9 Increase61,354.8 Increase4,836.3 Increase39,819.6 Increase0.6% Increase2.0% Steady2.5% Steady251.0%
2029 Increase7,628.2 Increase63,170.9 Increase4,944.7 Increase40,948.6 Increase0.4% Increase2.0% Steady2.5% Negative increase251.7%

Sectors of the economy

[edit]

Agriculture

[edit]
Main article: Agriculture, forestry, and fishing in Japan
Rice is a very important crop in Japan as shown here in a rice paddy in Tawaramoto, Nara.

The Japanese agricultural sector accounts for about 1.1% (2017) of the total country's GDP.[100] Only 12% of Japan's land is suitable for cultivation.[101][102] Due to this lack of arable land, a system of terraces is used to farm in small areas.[103] This results in one of the world's highest levels of crop yields per unit area, with an overall agricultural self-sufficiency rate of about 50% on fewer than 56,000 km2 (14 million acres) cultivated.

Japan's small agricultural sector, however, is also highly subsidized and protected, with government regulations that favor small-scale cultivation instead of large-scale agriculture as practiced in North America.[101] There has been a growing concern about farming as the current farmers are aging with a difficult time finding successors.[104]

Rice accounts for almost all of Japan's cereal production.[105] Japan is the second-largest agricultural product importer in the world.[105] Rice, the most protected crop, is subject to tariffs of 777.7%.[102][106]

Although Japan is usually self-sufficient in rice (except for its use in making rice crackers and processed foods) and wheat, the country must import about 50% of its requirements of other grain and fodder crops and relies on imports for half of its supply of meat.[107][108] Japan imports large quantities of wheat and soybeans.[105] Japan is the 5th largest market for the European Union's agricultural exports.[109][needs update] Over 90% of mandarin oranges in Japan are grown in Japan.[108] Apples are also grown due to restrictions on apple imports.[110]

Fishery

[edit]
Main article: Fishing industry in Japan
Global fish catch in Japan

Japan ranked fourth in the world in 1996 in tonnage of fish caught.[111] Japan captured 4,074,580 metric tons of fish in 2005, down from 4,987,703 tons in 2000, 9,558,615 tons in 1990, 9,864,422 tons in 1980, 8,520,397 tons in 1970, 5,583,796 tons in 1960 and 2,881,855 tons in 1950.[112] In 2003, the total aquaculture production was predicted at 1,301,437 tonnes.[113] In 2010, Japan's total fisheries production was 4,762,469 fish.[114] Offshore fisheries accounted for an average of 50% of the nation's total fish catches in the late 1980s although they experienced repeated ups and downs during that period.

Coastal fishing by small boats, set nets, or breeding techniques accounts for about one third of the industry's total production, while offshore fishing by medium-sized boats makes up for more than half the total production. Deep-sea fishing from larger vessels makes up the rest. Among the many species of seafood caught are sardines, skipjack tuna, crab, shrimp, salmon, pollock, squid, clams, mackerel, sea bream, sauries, tuna and Japanese amberjack. Freshwater fishing, including salmon, trout and eel hatcheries and fish farms,[115] takes up about 30% of Japan's fishing industry. Among the nearly 300 fish species in the rivers of Japan are native varieties of catfish, chub, herring and goby, as well as such freshwater crustaceans as crabs and crayfish.[116] Marine and freshwater aquaculture is conducted in all 47 prefectures in Japan.[113]

Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch,[117] prompting some claims that Japan's fishing is leading to depletion in fish stocks such as tuna.[118] Japan has also sparked controversy by supporting quasi-commercial whaling.[119]

Industry

[edit]
Main article: Manufacturing in Japan

Japanese manufacturing and industry is very diversified, with a variety of advanced industries that are highly successful. Industry accounts for 30.1% (2017) of the nation's GDP.[100] The country's manufacturing output is the third highest in the world.[120]

Industry is concentrated in several regions, with the Kantō region surrounding Tokyo, (the Keihin industrial region) as well as the Kansai region surrounding Osaka (the Hanshin industrial region) and the Tōkai region surrounding Nagoya (the Chūkyō–Tōkai industrial region) the main industrial centers.[121][122][123][124][125][126] Other industrial centers include the southwestern part of Honshū and northern Shikoku around the Seto Inland Sea (the Setouchi industrial region); and the northern part of Kyūshū (Kitakyūshū). In addition, a long narrow belt of industrial centers called the Taiheiyō Belt is found between Tokyo and Fukuoka, established by particular industries, that have developed as mill towns.

Japan enjoys high technological development in many fields, including consumer electronics, automobile manufacturing, semiconductor manufacturing, optical fibers, optoelectronics, optical media, facsimile and copy machines, and fermentation processes in food and biochemistry. However, many Japanese companies are facing emerging rivals from the United States, South Korea, and Taiwan.[127]

Automobile manufacturing

[edit]
Main article: Manufacturing in Japan
Lexus LS. The rapid growth and success of Toyota's Lexus and other Japanese automakers reflects Japan's strength and global dominance in the automobile industry.

Japan is the third biggest producer of automobiles in the world.[42] Toyota is currently the world's largest car maker, and the Japanese car makers Nissan, Honda, Suzuki, and Mazda also count for some of the largest car makers in the world.[128][129] By number, Japan is the world's largest exporter of cars as of 2021.[130]

Mining and petroleum exploration

[edit]
Main article: Mining in Japan

Japan's mining production has been minimal, and Japan has very little mining deposits.[131][132] However, massive deposits of rare earths have been found off the coast of Japan.[133] In the 2011 fiscal year, the domestic yield of crude oil was 820 thousand kiloliters, which was 0.4% of Japan's total crude processing volume.[134]

In 2019, Japan was the 2nd largest world producer of iodine,[135] 4th largest worldwide producer of bismuth,[136] the world's 9th largest producer of sulfur[137] and the 10th largest producer of gypsum.[138]

Services

[edit]
Main article: Trade and services in Japan
Japan Airlines, though faced with massive debts as of 2010, is considered one of the largest airlines in the world.

Japan's service sector accounts for 68.7% (2017) of its total economic output.[100] Banking, insurance, real estate, retailing, transportation, and telecommunications are all major industries such as Mitsubishi UFJ, Mizuho, NTT, TEPCO, Nomura, Mitsubishi Estate, Aeon, Mitsui Sumitomo, Softbank, JR East, Seven & i Holdings, KDDI and Japan Airlines counting as some of the largest companies in the world.[139][140] two of the five most circulated newspapers in the world are Japanese newspapers.[141] The Koizumi government set Japan Post, one of the country's largest providers of savings and insurance services for privatization by 2015.[142] The six major keiretsus are the Mitsubishi, Sumitomo, Fuyo, Mitsui, Dai-Ichi Kangyo and Sanwa.[143] Japan is home to 251 companies from the Forbes Global 2000 or 12.55% (as of 2013).[144]

Tourism

[edit]
Main article: Tourism in Japan
Himeji Castle, in Himeji, Hyōgo Prefecture, is one of the most visited sights in Japan.

In 2012, Japan was the fifth most visited country in Asia and the Pacific, with over 8.3 million tourists.[145] In 2013, due to the weaker yen and easier visa requirements for southwest Asian countries, Japan received a record 11.25 million visitors, which was higher than the government's projected goal of 10 million visitors.[146][147][148] The government hopes to attract 40 million visitors a year by the 2020 Summer Olympics in Tokyo.[147] Some of the most popular visited places include the Shinjuku, Ginza, Shibuya and Asakusa areas in Tokyo, and the cities of Osaka, Kobe and Kyoto, as well as Himeji Castle.[149] Hokkaido is also a popular winter destination for visitors with several ski resorts and luxury hotels being built there.[147][150]

Japan's economy is less dependent on international tourism than those of other G7 countries and OECD countries in general; from 1995 to 2014, it was by far the least visited country in the G7 despite being the second largest country in the group,[151] and as of 2013 was one of the least visited countries in the OECD on a per capita basis.[152] In 2013, international tourist receipts was 0.3% of Japan's GDP, while the corresponding figure was 1.3% for the United States and 2.3% for France.[153][154]

Infrastructure

[edit]
Main articles: Energy in Japan and Transport in Japan
Shinkansen N700 Series

In 2018, Japan ranked 5th overall in the World Bank's Logistics Performance Index,[155] and 2nd in the infrastructure category.[156]

In 2005, one half of Japan's energy was produced from petroleum, a fifth from coal, and 14% from natural gas.[157] Nuclear power in Japan made a quarter of electricity production but due to the Fukushima Daiichi nuclear disaster there has been a large desire to end Japan's nuclear power program.[158][159] In September 2013, Japan closed its last 50 nuclear power plants nationwide, causing the nation to be nuclear free.[160] The country has since then opted to restart a few of its nuclear reactors.[161]

Japan's spendings on roads has been considered large.[162] The 1.2 million kilometers of paved road are one of the major means of transportation.[163] Japan has left-hand traffic.[164] A single network of speed, divided, limited-access toll roads connects major cities and are operated by toll-collecting enterprises.[165] New and used cars are inexpensive, and the Japanese government has encouraged people to buy hybrid vehicles.[166] Car ownership fees and fuel levies are used to promote energy-efficiency.[166]

Rail transport is a major means of transport in Japan. Dozens of Japanese railway companies compete in regional and local passenger transportation markets; for instance, 6 passenger JR enterprises, Kintetsu Railway, Seibu Railway, and Keio Corporation.[167] Often, strategies of these enterprises contain real estate or department stores next to stations, and many major stations have major department stores near them.[168] The Japanese cities of Fukuoka, Kobe, Kyoto, Nagoya, Osaka, Sapporo, Sendai, Tokyo and Yokohama all have subway systems. Some 250 high-speed Shinkansen trains connect major cities.[169] All trains are known for punctuality, and a delay of 90 seconds can be considered late for some train services.[170]

There are 98 passenger and 175 total airports in Japan, and flying is a popular way to travel.[171][172] The largest domestic airport, Tokyo International Airport, is Asia's second busiest airport.[173] The largest international gateways are Narita International Airport (Tokyo area), Kansai International Airport (Osaka/Kobe/Kyoto area), and Chūbu Centrair International Airport (Nagoya area).[174] The largest ports in Japan include Nagoya Port, the Port of Yokohama, the Port of Tokyo and the Port of Kobe.[175]

About 84% of Japan's energy is imported from other countries.[176][177] Japan is the world's largest liquefied natural gas importer, second largest coal importer, and third largest net oil importer.[178] Given its heavy dependence on imported energy, Japan has aimed to diversify its sources.[179] Since the oil shocks of the 1970s, Japan has reduced dependence on petroleum as a source of energy from 77.4% in 1973 to about 43.7% in 2010 and increased dependence on natural gas and nuclear power.[180] In September 2019, Japan will invest 10 billion on liquefied natural gas projects worldwide, in a strategy to boost the global LNG market and reinforce the security of energy supply.[181] Other important energy source includes coal, and hydroelectricity is Japan's biggest renewable energy source.[182][183] Japan's solar market is also currently booming.[184] Kerosene is also used extensively for home heating in portable heaters, especially farther north.[185] Many taxi companies run their fleets on liquefied natural gas.[186] A recent success towards greater fuel economy was the introduction of mass-produced hybrid vehicles.[166] Prime Minister Shinzō Abe, who was working on Japan's economic revival, signed a treaty with Saudi Arabia and UAE about the rising prices of oil, ensuring Japan's stable deliveries from that region.[187][188]

Finance

[edit]
The main trading room of the Tokyo Stock Exchange, one of the largest stock exchanges in the world

The Tokyo Stock Exchange is the third largest stock exchange in the world by market capitalization, as well as the 2nd largest stock market in Asia, with 2,292 listed companies.[189][190][191] The Nikkei 225 and the TOPIX are the two important stock market indexes of the Tokyo Stock Exchange.[192][193] The Tokyo Stock Exchange and the Osaka Stock Exchange, another major stock exchange in Japan, merged on 1 January 2013, creating one of the world's largest stock exchanges.[191] Other stock exchanges in Japan include the Nagoya Stock Exchange, Fukuoka Stock Exchange and Sapporo Securities Exchange.[194][195]

Labor force

[edit]
Main article: Labor market of Japan
Unemployment rate of Japan.[196] Red line is G7 average.
15-24 age (thin line) is youth unemployment.

The unemployment rate in December 2013 was 3.7%, down 1.5 percentage points from the claimed unemployment rate of 5.2% in June 2009 due to the strong economic recovery.[197][198][199]

In 2008 Japan's labor force consisted of some 66 million workers—40% of whom were women—and was rapidly shrinking.[200] One major long-term concern for the Japanese labor force is its low birthrate.[201] In 2005, the number of deaths in Japan exceeded the number of births, indicating that the decline in population had already started.[202] While one countermeasure for a declining birthrate would be to increase immigration, Japan has struggled to attract potential migrants despite immigration laws being relatively lenient (especially for high-skilled workers) compared to other developed countries.[203] This is also apparent when looking at Japan's work visa programme for "specified skilled worker", which had less than 3,000 applicants, despite an annual goal of attracting 40,000 overseas workers, suggesting Japan faces major challenges in attracting migrants compared to other developed countries regardless of its immigration policies.[204] A Gallup poll found that few potential migrants wished to migrate to Japan compared to other G7 countries, consistent with the country's low migrant inflow.[205][206]

In 1989, the predominantly public sector union confederation, SOHYO (General Council of Trade Unions of Japan), merged with RENGO (Japanese Private Sector Trade Union Confederation) to form the Japanese Trade Union Confederation. Labor union membership is about 12 million.

As of 2019 Japan's unemployment rate was the lowest in the G7.[207] Its employment rate for the working-age population (15–64) was the highest in the G7.[208]

Law and government

[edit]

Japan ranks 27th of 185 countries in the ease of doing business index 2013.[209]

Japan has one of the smallest tax rates in the developed world.[210] After deductions, the majority of workers are free from personal income taxes. Consumption tax rate is 10%, while corporate tax rates are high, second highest corporate tax rate in the world, at 36.8%.[210][211][212] However, the House of Representatives has passed a bill which increased the consumption tax to 10% in October 2015.[213] The government has also decided to reduce corporate tax and to phase out automobile tax.[214][215]

In 2016, the IMF encouraged Japan to adopt an income policy that pushes firms to raise employee wages in combination with reforms to tackle the labor market dual tiered employment system to drive higher wages, on top of monetary and fiscal stimulus. Shinzo Abe has encouraged firms to raise wages by at least three per cent annually (the inflation target plus average productivity growth).[216][217][218]

Shareholder activism is rare despite the fact that the corporate law gives shareholders strong powers over managers.[219] Under Prime Minister Shinzō Abe, corporate governance reform has been a key initiative to encourage economic growth. In 2012 around 40% of leading Japanese companies had any independent directors while in 2016 most all have begun to appoint independent directors.[216][220]

The government's liabilities include the second largest public debt of any nation with debt of over one quadrillion yen, or 8,535,340,000,000 in USD.[221][222][223] Former Prime Minister Naoto Kan has called the situation 'urgent'.[224]

Japan's central bank has the second largest foreign-exchange reserves after the People's Republic of China, with over one trillion US Dollars in foreign reserves.[225]

Culture

[edit]
Our expansion could be much bigger and quicker, but we are held back. Nowhere in the world do the [regulatory approvals] take so long. (The process is) old fashioned. — Tony Fernandes, AirAsia chief.[226]

Overview

[edit]

Nemawashi (根回し), or "consensus building", in Japanese culture is an informal process of quietly laying the foundation for some proposed change or project, by talking to the people concerned, gathering support and feedback, and so forth. It is considered an important element in any major change, before any formal steps are taken, and successful nemawashi enables changes to be carried out with the consent of all sides.

Japanese companies are known for management methods such as "The Toyota Way". Kaizen (改善, Japanese for "improvement") is a Japanese philosophy that focuses on continuous improvement throughout all aspects of life. When applied to the workplace, Kaizen activities continually improve all functions of a business, from manufacturing to management and from the CEO to the assembly line workers.[227] By improving standardized activities and processes, Kaizen aims to eliminate waste (see Lean manufacturing). Kaizen was first implemented in several Japanese businesses during the country's recovery after World War II, including Toyota, and has since spread to businesses throughout the world.[228] The corporate application of the kaizen system has been criticized for neglecting or harming the quality of life of workers, particularly via the implementation of long working hours. However, according to the OECD, Japan's average for annual hours worked per employee is lower than the OECD average and middling among G7 countries.[229]

Some companies have powerful enterprise unions and shuntō. The Nenko system or Nenko Joretsu, as it is called in Japan, is the Japanese system of prefering to promote employees close to retirement. This is done to prioritize experience in executive positions and to allow older employees to achieve a higher salary level before retirement. The Nenko system has been criticised for leaving younger employees at a disadvantage against older employees who may be less capable.

Relationships between government bureaucrats and companies are often close. Amakudari (天下り, amakudari, "descent from heaven") is the institutionalised practice where Japanese senior bureaucrats retire to high-profile positions in the private and public sectors. The practice is increasingly viewed as corrupt and a limitation on efforts to reduce ties between the private sector and the state that prevent economic and political reforms. Lifetime employment (shūshin koyō) and seniority-based career advancement have been common in the Japanese work environment.[210][230] These practices have become less common in recent years.[231]

Salaryman (サラリーマン, Sararīman, salaried man) refers to someone whose income is salary based; particularly those working for corporations. Coined in Japan, the word's frequent use by Japanese corporations and its prevalence in Japanese manga and anime has led to its adoption into and common usage within the English language to refer to Japanese white-collar workers, and it can be found in many English-language books and articles pertaining to Japanese culture. Immediately following World War II, becoming a salaryman was viewed as a gateway to a stable, middle-class lifestyle. In modern use, the term carries associations of long working hours, low prestige in the corporate hierarchy, absence of significant sources of income other than salary, wage slavery, and karōshi. The term salaryman refers almost exclusively to males.[citation needed]

An office lady, often abbreviated OL (Japanese: オーエル Ōeru), is a female office worker in Japan who performs generally pink collar tasks such as serving tea and secretarial or clerical work. Like many unmarried Japanese, OLs often live with their parents well into early adulthood. Office ladies are usually full-time permanent staff, with little opportunity for promotion, and there is often a tacit expectation that they leave their jobs if they get married.[citation needed]

Freeter (フリーター, furītā) is a Japanese expression for people between the age of 15 and 34 who lack full-time employment or are unemployed, excluding homemakers and students. They may also be described as underemployed or freelance workers. These people do not start a career after high school or university but instead usually live as parasite singles with their parents and earn some money with low skilled and low paid jobs. Low income makes it difficult for freeters to start a family, and lacking qualifications in the form of skilled labor experience makes it difficult for them to start a career at a later point in life.[citation needed]

Karōshi (過労死, karōshi), which can be translated quite literally from Japanese as "death from overwork", is occupational sudden death. The major medical causes of karōshi deaths are heart attack and stroke due to stress.[232]

Sōkaiya (総会屋, sōkaiya), (sometimes also translated as corporate bouncers, meeting-men, or corporate blackmailers) are a form of specialized racketeer unique to Japan, and often associated with the yakuza that extort money from or blackmail companies by threatening to publicly humiliate companies and their management, usually in their annual meeting (総会, sōkai). Sarakin (サラ金) is a Japanese term for moneylender, or loan shark. It is a contraction of the Japanese words for salaryman and cash. Around 14 million people, or 10% of the Japanese population, have borrowed from a sarakin. In total, there are about 10,000 firms (down from 30,000 a decade ago); however, the top seven firms make up 70% of the market. The value of outstanding loans totals 100 billion. The biggest sarakin are publicly traded and often allied with big banks.[233]

The first "Western-style" department store in Japan (called デパート, depāto) was Mitsukoshi, founded in 1904, which has its root as a kimono store called Echigoya from 1673. When the roots are considered, however, Matsuzakaya has an even longer history, dating back to 1611 and becoming a department store in 1910. In 1924, Matsuzakaya store in Ginza allowed street shoes to be worn indoors, something innovative at the time.[234] These former kimono shop department stores dominated the market in its earlier history. They sold luxurious products which contributed to them having sophisticated atmospheres. From the 1920s, private railway operators started to build department stores directly linked to their lines' terminuses. Seibu and Hankyu are examples of this practice. From the 1980s onwards, Japanese department stores have faced fierce competition from supermarkets and convenience stores, and they have gradually declined in prominence. Still, depāto are seen as bastions of cultural conservatism in the country. Gift certificates for department stores are frequently given as presents in Japan. Department stores in Japan generally offer a wide range of services which can include foreign exchange, travel reservations, and ticket sales for local concerts and other events.[citation needed]

Keiretsu

[edit]
Main article: Keiretsu

A keiretsu (系列, "system" or "series") is a set of companies with interlocking business relationships and shareholdings. A keiretsu unequivocally exists as an identical form of business structure to the affiliate, or an associate.[citation needed] It is a type of business group. The prototypical keiretsu appeared in Japan during the "economic miracle" following World War II. Before Japan's surrender, Japanese industry was controlled by large family-controlled vertical monopolies called zaibatsu. The Allies dismantled the zaibatsu in the late 1940s, but the companies formed from the dismantling of the zaibatsu were reintegrated. The dispersed corporations were re-interlinked through share purchases to form horizontally integrated alliances across many industries. Where possible, keiretsu companies would also supply one another, making the alliances vertically integrated as well. In this period, official government policy promoted the creation of robust trade corporations that could withstand pressures from intensified world trade competition.[235]

The major keiretsu were each centered on one bank, which lent money to the keiretsu's member companies and held equity positions in the companies. Each central bank had great control over the companies in the keiretsu and acted as a monitoring entity and as an emergency bail-out entity. One effect of this structure was to minimize the presence of hostile takeovers in Japan, because no entities could challenge the power of the banks.[citation needed]

There are two types of keiretsu: vertical and horizontal. Vertical keiretsu illustrates the organization and relationships within a company (for example all factors of production of a certain product are connected), while a horizontal keiretsu shows relationships between entities and industries, normally centered on a bank and trading company. Both are complexly woven together and sustain each other.[236]

The Japanese recession in the 1990s had profound effects on the keiretsu. Many of the largest banks were hit hard by bad loan portfolios and forced to merge or go out of business. This had the effect of blurring the lines between the keiretsu: Sumitomo Bank and Mitsui Bank, for instance, became Sumitomo Mitsui Banking Corporation in 2001, while Sanwa Bank (the banker for the Hankyu-Toho Group) became part of Bank of Tokyo-Mitsubishi UFJ, now known as MUFG Bank. Additionally, many companies from outside the keiretsu system, such as Sony, began outperforming their counterparts within the system.[citation needed]

Generally, these causes gave rise to a strong notion in the business community that the old keiretsu system was not an effective business model, and led to an overall loosening of keiretsu alliances. While the keiretsu still exist, they are not as centralized or integrated as they were before the 1990s. This, in turn, has led to a growing corporate acquisition industry in Japan, as companies are no longer able to be easily "bailed out" by their banks, as well as rising derivative litigation by more independent shareholders.[citation needed]

Mergers and acquisitions

[edit]

Japanese companies have been involved in 50,759 deals between 1985 and 2018. This cumulates to a total value of US$2.636 billion which translates to ¥281.469 trillion.[237] In 1999, there was an all-time high in terms of value of deals with almost US$220 billion. The most active year so far was 2017 with over 3,150 deals, but only a total value of US$114 billion (see graph "M&A in Japan by number and value").[citation needed]

Here is a list of the most important deals (ranked by value in US$ [billion]) in Japanese history:[citation needed]

Date announced Acquiror name Acquiror mid industry Acquiror state Target name Target mid industry Target state Value of transaction ($mil)
13 October 1999 Sumitomo Bank Ltd Banks Japan Sakura Bank Ltd Banks Japan 45,494.36
18 February 2005 Mitsubishi Tokyo Financial Grp Banks Japan UFJ Holdings Inc Banks Japan 41,431.03
20 August 1999 Fuji Bank Ltd Banks Japan Dai-Ichi Kangyo Bank Ltd Banks Japan 40,096.63
27 March 1995 Mitsubishi Bank Ltd Banks Japan Bank of Tokyo Ltd Banks Japan 33,787.73
18 July 2016 SoftBank Group Corp Wireless Japan ARM Holdings PLC Semiconductors United Kingdom 31,879.49
20 August 1999 Fuji Bank Ltd Banks Japan Industrial Bank of Japan Ltd Banks Japan 30,759.61
24 August 2004 Sumitomo Mitsui Finl Grp Inc Banks Japan UFJ Holdings Inc Banks Japan 29,261.48
28 August 1989 Mitsui Taiyo Kobe Bank Ltd Banks Japan Taiyo Kobe Bank Ltd Banks Japan 23,016.80
15 October 2012 SoftBank Corp Wireless Japan Sprint Nextel Corp Telecommunications Services United States 21,640.00
20 September 2017 KK Pangea Other Financials Japan Toshiba Memory Corp Semiconductors Japan 17,930.00

Among the top 50 deals by value, 92% of the time the acquiring nation is Japan. Foreign direct investment is playing a much smaller role than national M&A in Japan.

Other economic indicators

[edit]
Current account balance (2006)[238]

Net international investment position: 266,223 / billion[239] (1st)[240]

Industrial production growth rate: 7.5% (2010 est.)

Investment (gross fixed): 20.3% of GDP (2010 est.)

Household income or consumption by percentage share:

  • Lowest 10%: 4.8%
  • Highest 10%: 21.7% (1993)

Agriculture products: rice, sugar beets, vegetables, fruit, pork, poultry, dairy products, eggs, fish

Export commodities: machinery and equipment, motor vehicles, semiconductors, chemicals[241]

Import commodities: machinery and equipment, fuels, foodstuffs, chemicals, textiles, raw materials (2001)

Exchange rates:
Japanese Yen per US$1 – 88.67 (2010), 93.57 (2009), 103.58 (2008), 117.99 (2007), 116.18 (2006), 109.69 (2005), 115.93 (2003), 125.39 (2002), 121.53 (2001), 105.16 (January 2000), 113.91 (1999), 130.91 (1998), 120.99 (1997), 108.78 (1996), 94.06 (1995)

Electricity:

  • Electricity – consumption: 925.5 billion kWh (2008)
  • Electricity – production: 957.9 billion kWh (2008 est.)
  • Electricity – exports: 0 kWh (2008)
  • Electricity – imports: 0 kWh (2008)

Electricity production by source:

  • Fossil Fuel: 69.7%
  • Hydro: 7.3%
  • Nuclear: 22.5%
  • Other: 0.5% (2008)

Electricity standards:

Oil:

  • production: 132,700 bbl/d (21,100 m3/d) (2009) (46th)
  • consumption: 4,363,000 bbl/d (693,700 m3/d) (2009) (3rd)
  • exports: 380,900 barrels per day (60,560 m3/d) (2008) (64th)
  • imports: 5,033,000 barrels per day (800,200 m3/d) (2008) (2nd)
  • net imports: 4,620,000 barrels per day (735,000 m3/d) (2008 est.)
  • proved reserves: 44,120,000 bbl (7,015,000 m3) (1 January 2010 est.)

See also

[edit]

Notes

[edit]
  1. ^ "World Economic Outlook Database, April 2024". IMF.org. International Monetary Fund. Archived from the original on 17 April 2024. Retrieved 29 April 2024.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Archived from the original on 28 October 2019. Retrieved 29 September 2019.
  3. ^ a b "Social Expenditure – Aggregated data". OECD. Archived from the original on 19 April 2021. Retrieved 23 April 2024.
  4. ^ a b Kenworthy, Lane (1999). "Do Social-Welfare Policies Reduce Poverty? A Cross-National Assessment" (PDF). Social Forces. 77 (3): 1119–1139. doi:10.2307/3005973. JSTOR 3005973. Archived (PDF) from the original on 10 August 2013.
  5. ^ "Source". Archived from the original on 20 December 2023. Retrieved 20 December 2023.
  6. ^ a b c d e f "Report for Selected Countries and Subjects: October 2024". imf.org. International Monetary Fund.
  7. ^ a b c "EAST ASIA/SOUTHEAST ASIA :: JAPAN". CIA.gov. Central Intelligence Agency. Archived from the original on 5 January 2021. Retrieved 21 October 2024.
  8. ^ "Income distribution database". data.oecd.org. OECD. Archived from the original on 2 February 2020. Retrieved 27 November 2024.
  9. ^ a b "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme.
  10. ^ "CPI 2023". Transparency International. 30 January 2024. Archived from the original on 4 February 2023. Retrieved 30 January 2024.
  11. ^ a b c d "Seasonally adjusted series of major items (Labour force, Employed person, Unemployed person, Not in labour force, Unemployment rate)". stat.go.jp. Ministry of Internal Affairs and Communications. Archived from the original on 7 August 2020. Retrieved 2 October 2020.
  12. ^ "Employed person by age group". stat.go.jp. Ministry of Internal Affairs and Communications. Archived from the original on 7 August 2020. Retrieved 2 October 2020.
  13. ^ "Labor Force by Services". data.worldbank.org. Archived from the original on 27 June 2022. Retrieved 27 January 2019. – Labor Force by Industry Archived 27 June 2022 at the Wayback Machine and agriculture Archived 27 June 2022 at the Wayback Machine
  14. ^ "Home". Archived from the original on 17 May 2023. Retrieved 14 May 2023.
  15. ^ a b c d e f "Trade Statistics". customs.go.jp. Japan Customs. Archived from the original on 19 February 2024. Retrieved 12 February 2024.
  16. ^ a b "UNCTAD 2022" (PDF). UNCTAD. Archived (PDF) from the original on 12 December 2022. Retrieved 6 January 2022.
  17. ^ a b c d e f g "Report for Selected Countries and Subjects: October 2022". imf.org. International Monetary Fund. Archived from the original on 21 January 2023. Retrieved 21 January 2023.
  18. ^ "External Debt | Economic Indicators | CEIC". www.ceicdata.com. Archived from the original on 10 February 2023. Retrieved 21 January 2023.
  19. ^ "Development aid rises again in 2016 but flows to poorest countries dip". OECD. 11 April 2017. Archived from the original on 18 September 2017. Retrieved 25 September 2017.
  20. ^ "Sovereigns rating list". Standard & Poor's. Archived from the original on 28 September 2011. Retrieved 26 May 2011.
  21. ^ a b c Rogers, Simon; Sedghi, Ami (15 April 2011). "How Fitch, Moody's and S&P rate each country's credit rating". The Guardian. London. Archived from the original on 1 August 2013. Retrieved 31 May 2011.
  22. ^ "Scope affirms the sovereign rating of Japan at A and revises Outlook to Stable". scoperatings.com. Scope Ratings. 22 March 2024. Archived from the original on 24 March 2024. Retrieved 24 March 2024.
  23. ^ "International Reserves / Foreign Currency Liquidity". Ministry of Finance (Japan). Archived from the original on 19 April 2021. Retrieved 23 October 2024.
  24. ^ Lechevalier, Sébastien (2014). The Great Transformation of Japanese Capitalism. Routledge. p. 204. ISBN 9781317974963.
  25. ^ "World Economic Outlook Database, April 2016 – Report for Selected Countries and Subjects". International Monetary Fund (IMF). Archived from the original on 25 January 2017. Retrieved 6 October 2015.
  26. ^ a b c "Japan's GDP falls behind Germany to fourth place amid weak yen | The Asahi Shimbun: Breaking News, Japan News and Analysis". The Asahi Shimbun. Archived from the original on 26 February 2024. Retrieved 31 May 2024.
  27. ^ Japan: 2017 Article IV Consultation : Press Release ; Staff Report ; and Statement by the Executive Director for Japan. Washington, D.C.: International Monetary Fund. Asia and Pacific Department. 2017. ISBN 978-1-4843-1349-7. OCLC 1009601181.
  28. ^ "World Trade Statistical Review 2019" (PDF). World Trade Organization. p. 100. Archived (PDF) from the original on 30 June 2022. Retrieved 31 May 2019.
  29. ^ "Household final consumption expenditure (current US$) | Data". data.worldbank.org. Archived from the original on 11 November 2020. Retrieved 7 April 2018.
  30. ^ "Trade Statistics of Japan Ministry of Finance". www.customs.go.jp. Retrieved 5 December 2024.
  31. ^ "国富流出「10年で約50兆円」 エネルギー輸入で大打撃". 日本経済新聞 (in Japanese). 27 October 2022. Retrieved 5 December 2024.
  32. ^ "Japan, savings superpower of the world". The Japan Times. 2 September 2018. Archived from the original on 7 August 2020. Retrieved 12 September 2020.
  33. ^ Chandler, Marc (19 August 2011). "The yen is a safe haven as Japan is the world's largest creditor". Credit Writedowns. Archived from the original on 4 March 2016. Retrieved 19 June 2013.
  34. ^ Obe, Mitsuru (28 May 2013). "Japan World's Largest Creditor Nation for 22nd Straight Year". The Wall Street Journal. Archived from the original on 18 June 2013. Retrieved 14 October 2013.
  35. ^ "HOME > International Policy > Statistics > International Reserves/Foreign Currency Liquidity". Ministry of Finance Japan. Archived from the original on 6 January 2013. Retrieved 3 September 2017.
  36. ^ "Allianz Global Wealth Report 2021" (PDF). Archived (PDF) from the original on 7 October 2021. Retrieved 5 March 2022.
  37. ^ "Allianz Global Wealth Report 2015" (PDF). Allianz. 2015. Archived from the original (PDF) on 21 January 2017. Retrieved 24 March 2016.
  38. ^ Moller, Stephanie; Huber, Evelyne; Stephens, John D.; Bradley, David; Nielsen, François (2003). "Determinants of Relative Poverty in Advanced Capitalist Democracies". American Sociological Review. 68 (1): 22–51. doi:10.2307/3088901. JSTOR 3088901.
  39. ^ "Monthly Reports - World Federation of Exchanges". WFE. Archived from the original on 12 September 2019. Retrieved 7 September 2019.
  40. ^ "Nikkei Indexes". indexes.nikkei.co.jp. Archived from the original on 12 September 2015. Retrieved 15 November 2015.
  41. ^ "Column「In Fact: The service sector in Japan」". www.rieti.go.jp. Archived from the original on 31 May 2024. Retrieved 31 May 2024.
  42. ^ a b "2013 Production Statistics – First 6 Months". OICA. Archived from the original on 6 November 2013. Retrieved 16 October 2013.
  43. ^ "Global 500 (updated)". Fortune. Archived from the original on 10 July 2016. Retrieved 24 March 2016.
  44. ^ Maddison 2007, p. 379, table A.4.
  45. ^ "第２章 持続的発展のための条件 - 内閣府". 内閣府ホームページ (in Japanese). Archived from the original on 4 December 2023. Retrieved 31 May 2024.
  46. ^ "World Bank Open Data". World Bank Open Data. Archived from the original on 26 May 2023. Retrieved 31 May 2024.
  47. ^ "Plaza Accord". Investopedia. 22 August 2019. Archived from the original on 13 February 2024. Retrieved 8 April 2021.
  48. ^ Funabashi, Yoichi (11 September 2018). "A U.S.-China 'Plaza Accord'?". The Japan Times. Archived from the original on 4 December 2023. Retrieved 29 May 2021.
  49. ^ プラザ合意から33年､1985年は何だったのか (in Japanese). Toyo Keizai. 27 February 2018. Archived from the original on 15 March 2023. Retrieved 19 February 2024.
  50. ^ "Japanese GDP, nominal". Archived from the original on 19 November 2015. Retrieved 8 May 2020.
  51. ^ a b Oh, Sunny. "Here's a lesson from Japan about the threat of a U.S. debt crisis". MarketWatch.
  52. ^ a b "What's Up with Inflation Expectations in Japan? - San Francisco Fed". 20 May 2024. Archived from the original on 31 May 2024. Retrieved 31 May 2024.
  53. ^ a b "Inflation and the Weak Yen | 公益財団法人フォーリン・プレスセンター（FPCJ）". 公益財団法人フォーリン・プレスセンター（FPCJ） | 「日本の今」を、世界のメディアへ。取材と広報を支援する情報発信サイト. 22 June 2022. Archived from the original on 31 May 2024. Retrieved 31 May 2024.
  54. ^ a b One, Mitsuru. "Nikkei: How the world is embracing Japan style economics". Nikkei. Archived from the original on 12 April 2023. Retrieved 14 July 2021.
  55. ^ Aaron, O'Neill (July 2022). "National debt from 2016 to 2026 in relation to gross domestic product". statista. Archived from the original on 2 June 2021. Retrieved 31 May 2021. National debt from 2017 to 2027
  56. ^ "Monthly Report (Population)". Statistics Burea of Japan. 2023. Archived from the original on 5 April 2018. Retrieved 24 April 2024.
  57. ^ "Demography - Working age population - OECD Data". theOECD. Archived from the original on 16 May 2024. Retrieved 31 May 2024.
  58. ^ "World Population Prospects 2019". United Nations Department of Economic and Social Affairs. 2015. Archived from the original on 11 July 2019. Retrieved 12 July 2018.
  59. ^ Sim, Walter (2019). "Tokyo gets more crowded as Japan hollows out 2019". The Straits Times. Archived from the original on 10 July 2019. Retrieved 10 July 2019.
  60. ^ "Yosha Bunko". yoshabunko.com. Archived from the original on 24 September 2023. Retrieved 31 May 2024.
  61. ^ "Hizen: The Cradle of Japanese Porcelain | Saga, Nagasaki | Japan Heritage". Japan Heritage Official Site | Stories and travel information | JNTO. Retrieved 31 May 2024.[permanent dead link‍]
  62. ^ 日本放送協会. "文字と画像で見る | 日本史". 高校講座 (in Japanese). Archived from the original on 1 June 2024. Retrieved 31 May 2024.
  63. ^ "堂島米市場". 堂島米市場 (in Japanese). Archived from the original on 15 May 2024. Retrieved 31 May 2024.
  64. ^ "The Coming of the "Black Ships" (kurofune) to Japan | Edo no Taihen (great pivotal events of Edo) | EDO TOKYO Digital Museum - Historical Visit, New Wisdom". www.library.metro.tokyo.lg.jp. Archived from the original on 1 March 2024. Retrieved 31 May 2024.
  65. ^ "The Meiji Restoration and Modernization | Asia for Educators | Columbia University". afe.easia.columbia.edu. Archived from the original on 2 July 2012. Retrieved 3 October 2022.
  66. ^ "Japan - The Economy - PATTERNS OF DEVELOPMENT". countrystudies.us. Archived from the original on 9 October 2023. Retrieved 3 October 2023.
  67. ^ "5.6G: The Governments Role in Industrialization". Thothios. 8 December 2021. Archived from the original on 5 November 2022. Retrieved 5 November 2022.
  68. ^ "Japan | History, Flag, Map, Population, & Facts | Britannica". www.britannica.com. 31 May 2024. Archived from the original on 8 October 2023. Retrieved 31 May 2024.
  69. ^ "Kaizen: Understanding the Japanese Business Philosophy". Investopedia. Archived from the original on 29 April 2024. Retrieved 31 May 2024.
  70. ^ "Slowdown". www.grips.ac.jp. Archived from the original on 29 May 2024. Retrieved 31 May 2024.
  71. ^ Masake, Hisane. A farewell to zero. Asia Times Online (2 March 2006). Retrieved on 28 December 2006.
  72. ^ Spiegel, Mark (20 October 2006). "Did Quantitative Easing by the Bank of Japan "Work"?". Archived from the original on 19 October 2012. Retrieved 23 December 2008.
  73. ^ Krugman, Paul. "Saving Japan". web.mit.edu. Archived from the original on 20 October 2008. Retrieved 23 December 2008.
  74. ^ "Economic survey of Japan 2008: Bringing an end to deflation under the new monetary policy framework". 7 April 2008. Archived from the original on 25 May 2009. Retrieved 23 December 2008.
  75. ^ Riley, Charles (4 April 2013). "Bank of Japan takes fight to deflation". CNN. Archived from the original on 29 October 2020. Retrieved 3 August 2020.
  76. ^ "EU-Japan free trade deal cleared for early 2019 start". Reuters. 12 December 2018. Archived from the original on 16 June 2020. Retrieved 23 October 2020.
  77. ^ Booker, Brakkton (16 April 2020). "Japan Declares Nationwide State Of Emergency As Coronavirus Spreads". NPR. Archived from the original on 16 April 2020. Retrieved 16 April 2020.
  78. ^ Reynolds, Isabel; Nobuhiro, Emi (7 April 2020). "Japan Declares Emergency For Tokyo, Osaka as Hospitals Fill Up". Bloomberg. Archived from the original on 8 April 2020. Retrieved 16 April 2020.
  79. ^ The Economist, 28 March 2020, page 4.
  80. ^ "Britain signs first major post-Brexit trade deal with Japan". Reuters. 23 October 2020. Archived from the original on 23 October 2020. Retrieved 23 October 2020.
  81. ^ "UK and Japan agree historic free trade agreement". Gov.uk (Government of the United Kingdom). Archived from the original on 11 September 2020. Retrieved 12 September 2020.
  82. ^ a b "Nikkei index hits 30,000 for first time in three decades". Nikkei. 15 February 2021. Archived from the original on 15 February 2021.
  83. ^ a b c Sylvain Saurel (13 May 2022). "Japan Exceeds One Million Billion Yen in Debt — "Whatever It Takes" Has Become the Norm". Medium.com. Archived from the original on 13 May 2022.
  84. ^ "The Yen Appreciates Greatly, Rising From 160 Yen/USD to 154 Yen/USD". The Nikkei (in Japanese). 30 April 2024. Retrieved 2 June 2024.
  85. ^ 日本放送協会 (3 July 2024). "円相場 一時1ドル161円90銭台に 約37年半ぶりの円安水準更新 | NHK". NHKニュース. Retrieved 11 July 2024.
  86. ^ 円の実力、なぜ過去最低水準 金利差だけではない日本経済の「弱さ」：朝日新聞デジタル [Why is the yen's strength at its lowest level ever? The weakness of the Japanese economy is not just due to the interest rate differential]. Asahi Shimbun Digital (in Japanese). The Asahi Shimbun. 25 December 2023. Archived from the original on 30 January 2024. Retrieved 13 April 2024.
  87. ^ "（時時刻刻）口先介入、薄れた効果 １カ月４円下落「市場に見透かされ」：朝日新聞デジタル" [(Time and Time) Lip service, faded effect, 4 yen drop in one month 'The market saw through']. Asahi Shimbun Digital (in Japanese). 26 April 2024. Retrieved 28 April 2024.
  88. ^ "このままでは日本の伝統的企業が海外に買われていく…円安が止まらない日本を待ち受ける"最悪のシナリオ" 政府は円安政策を意図的に進めているように見える" [If things continue like this, traditional Japanese companies will be bought out by foreign companies...The 'worst case scenario' awaits Japan as the yen continues to depreciate.The government appears to be intentionally pursuing a policy of depreciating the yen.]. PRESIDENT Online（プレジデントオンライン） (in Japanese). 9 May 2024. Retrieved 13 May 2024.
  89. ^ "円の国際価値が過去最低、BIS ドルなどと大差、通貨地位揺らぐ". 47NEWS (in Japanese). Kyodo News. Retrieved 21 June 2024.
  90. ^ Montgomery, Hanako; He, Laura (15 February 2024). "Japan slips into recession, allowing Germany to overtake as world's third-largest economy". CNN.
  91. ^ McCurry, Justin (15 February 2024). "Japan loses crown as world's third-largest economy after it slips into recession". The Guardian.
  92. ^ "GDP - Gross Domestic Product 2012 | countryeconomy.com". countryeconomy.com. Retrieved 2 June 2024.
  93. ^ "日本円が「ジャンク通貨」に？ ロシアや新興国通貨よりも価値下落：朝日新聞デジタル" [Will the Japanese yen become a "junk currency"? Decrease in value compared to Russian and emerging market currencies]. 朝日新聞デジタル (in Japanese). The Asahi Shimbun. 2 September 2022. Retrieved 15 November 2023.
  94. ^ "円安で日本円は"ジャンク通貨"になった 海外両替所に日本円の表示がないことも" [The depreciation of the yen has turned the Japanese yen into a "junk currency". Overseas currency exchange offices may not display Japanese yen.]. マネーポストWEB (in Japanese). Shogakukan. 25 August 2022. Retrieved 15 November 2023.
  95. ^ "ドル円相場、「円弱」1ドル150円 理由は金利差だけじゃない" [The dollar/yen exchange rate is “weak” at 150 yen to the dollar, and the reason is not just the interest rate difference.]. 日本経済新聞 (in Japanese). Nikkei. 13 November 2023. Retrieved 15 November 2023.
  96. ^ "Nikkei 225 reaches all-time-high, TSE's market cap reaches 1000 trillion yen". 日本経済新聞 (in Japanese). 4 July 2024. Retrieved 10 July 2024.
  97. ^ Statistics Division of Gifu Prefecture Archived 14 October 2007 at the Wayback Machine. (in Japanese) Gifu Prefecture. Accessed 2 November 2007.
  98. ^ "USD/JPY – U. S. Dollar / Japanese Yen Conversion". Yahoo! Finance. Archived from the original on 24 June 2013. Retrieved 19 June 2013.
  99. ^ "Report for Selected Countries and Subjects". Archived from the original on 27 June 2024. Retrieved 27 June 2024.
  100. ^ a b c "The World Factbook". Central Intelligence Agency. Archived from the original on 10 January 2019. Retrieved 20 July 2020.
  101. ^ a b "As Farmers Age, Japan Rethinks Relationship With Food, Fields". PBS. 12 June 2012. Archived from the original on 21 November 2013. Retrieved 21 November 2013.
  102. ^ a b "Trip Report – Japan Agricultural Situation". United States Department of Agriculture. 17 August 2012. Archived from the original on 6 May 2016. Retrieved 21 November 2013.
  103. ^ Nagata, Akira; Chen, Bixia (22 May 2012). "Urbanites Help Sustain Japan's Historic Rice Paddy Terraces". Our World. Archived from the original on 24 September 2016. Retrieved 21 November 2013.
  104. ^ "How will Japan's farms survive?". The Japan Times. 28 June 2013. Archived from the original on 4 November 2016. Retrieved 21 November 2013.
  105. ^ a b c "Japan – Agriculture". Nations Encyclopedia. Archived from the original on 3 July 2016. Retrieved 21 November 2013.
  106. ^ "With fewer, bigger plots and fewer part-time farmers, agriculture could compete". The Economist. 13 April 2013. Archived from the original on 20 November 2013. Retrieved 21 November 2013.
  107. ^ "Japan Immigration Work Permits and Visas". Skill Clear. Archived from the original on 3 December 2013. Retrieved 1 December 2013.
  108. ^ a b Nagata, Kazuaki (26 February 2008). "Japan needs imports to keep itself fed". The Japan Times. Archived from the original on 11 November 2016. Retrieved 1 December 2013.
  109. ^ "Agricultural trade in 2012: A good story to tell in a difficult year?" (PDF). European Union. January 2013. p. 14. Archived (PDF) from the original on 4 March 2016. Retrieved 1 December 2013.
  110. ^ Wheat, Dan (14 October 2013). "Japan may warm to U.S. apples". Capital Press. Archived from the original on 11 November 2016. Retrieved 1 December 2013.
  111. ^ "World review of fisheries and aquaculture". Food and Agriculture Organization. Archived from the original on 12 March 2015. Retrieved 18 January 2014.
  112. ^ Brown, Felicity (2 September 2003). "Fish capture by country". The Guardian. Archived from the original on 18 January 2017. Retrieved 18 January 2014.
  113. ^ a b "Japan". Food and Agriculture Organization. Archived from the original on 21 January 2017. Retrieved 18 January 2014.
  114. ^ "World fisheries production, by capture and aquaculture, by country (2010)" (PDF). Food and Agriculture Organization. Archived from the original (PDF) on 25 May 2017. Retrieved 18 January 2014.
  115. ^ Willoughby, Harvey. "Freshwater Fish Culture in Japan". National Oceanic and Atmospheric Administration. Archived from the original on 2 February 2014. Retrieved 20 June 2013.
  116. ^ Butler, Rhett Ayers (8 August 2007). "List of Freshwater Fishes for Japan". Mongabay. Archived from the original on 30 May 2013. Retrieved 20 June 2013.
  117. ^ "The World Factbook". Central Intelligence Agency. Archived from the original on 5 January 2021. Retrieved 1 February 2014.
  118. ^ "UN tribunal halts Japanese tuna over-fishing". Asia Times. 31 August 1999. Archived from the original on 29 September 2000. Retrieved 1 February 2014.{{cite web}}: CS1 maint: unfit URL (link)
  119. ^ Black, Richard (22 June 2005). "Japanese whaling 'science' rapped". BBC News. Archived from the original on 3 February 2014. Retrieved 1 February 2014.
  120. ^ "Manufacturing, value added (current US$) | Data". data.worldbank.org. Archived from the original on 7 January 2020. Retrieved 17 March 2020.
  121. ^ Iwadare, Yoshihiko (1 April 2004). "Strengthening the Competitiveness of Local Industries: The Case of an Industrial Cluster Formed by Three Tokai Prefecters" (PDF). Nomura Research Institute. p. 16. Archived from the original (PDF) on 7 May 2012. Retrieved 16 February 2014.
  122. ^ Kodama, Toshihiro (1 July 2002). "Case study of regional university-industry partnership in practice". Institute for International Studies and Training. Archived from the original on 30 July 2017. Retrieved 16 February 2014.
  123. ^ Mori, Junichiro; Kajikawa, Yuya; Sakata, Ichiro (2010). "Evaluating the Impacts of Regional Cluster Policies using Network Analysis" (PDF). International Association for Management of Technology. p. 9. Archived from the original (PDF) on 3 March 2016. Retrieved 16 February 2014.
  124. ^ Schlunze, Rolf D. "Location and Role of Foreign Firms in Regional Innovation Systems in Japan" (PDF). Ritsumeikan University. p. 25. Archived from the original (PDF) on 29 March 2017. Retrieved 16 February 2014.
  125. ^ "Profile of Osaka/Kansai" (PDF). Japan External Trade Organization Osaka. p. 10. Archived (PDF) from the original on 5 August 2020. Retrieved 16 February 2014.
  126. ^ Karan, Pradyumna (2010). Japan in the 21st Century: Environment, Economy, and Society. University Press of Kentucky. p. 416. ISBN 978-0813127637.
  127. ^ Cheng, Roger (9 November 2012). "The era of Japanese consumer electronics giants is dead". CNET. Archived from the original on 17 November 2012. Retrieved 11 November 2013.
  128. ^ "Toyota Again World's Largest Auto Maker". The Wall Street Journal. 28 January 2013. Archived from the original on 25 September 2015. Retrieved 21 November 2013.
  129. ^ Dawson, Chester (2012). "World Motor Vehicle Production OICA correspondents survey" (PDF). OICA. Archived (PDF) from the original on 24 September 2015. Retrieved 21 November 2013.
  130. ^ "The US Hasn't Noticed That China-Made Cars Are Taking Over the World". Bloomberg.com. 26 January 2023. Archived from the original on 28 July 2023. Retrieved 2 February 2023.
  131. ^ "Japan Mining". Library of Congress Country Studies. January 1994. Archived from the original on 1 January 2017. Retrieved 8 December 2013.
  132. ^ "Overview" (PDF). Ministry of Economy, Trade and Industry. 2005. Archived (PDF) from the original on 30 March 2016. Retrieved 8 December 2013.
  133. ^ Jamasmie, Cecilia (25 March 2013). "Japan's massive rare earth discovery threatens China's supremacy". Mining.com. Archived from the original on 22 April 2016. Retrieved 8 December 2013.
  134. ^ "Petroleum Industry in Japan 2013" (PDF). Petroleum Association of Japan. September 2013. p. 71. Archived from the original (PDF) on 3 March 2016. Retrieved 8 December 2013.
  135. ^ "USGS Iodine Production Statistics" (PDF). Archived (PDF) from the original on 25 June 2021. Retrieved 29 April 2021.
  136. ^ "USGS Bismuth Production Statistics" (PDF). Archived (PDF) from the original on 22 October 2022. Retrieved 29 April 2021.
  137. ^ "USGS Sulfur Production Statistics" (PDF). Archived (PDF) from the original on 9 October 2022. Retrieved 29 April 2021.
  138. ^ "USGS Gypsum Production Statistics" (PDF). Archived (PDF) from the original on 9 October 2022. Retrieved 29 April 2021.
  139. ^ "Fortune Global 500". CNNMoney. Archived from the original on 29 October 2013. Retrieved 16 November 2013.
  140. ^ "The World's Biggest Public Companies". Forbes. Archived from the original on 2 October 2019. Retrieved 16 November 2013.
  141. ^ "National Newspapers Total Circulation 2011". International Federation of Audit Bureaux of Circulations. Archived from the original on 25 May 2017. Retrieved 2 February 2014.
  142. ^ Fujita, Junko (26 October 2013). "Japan govt aims to list Japan Post in three years". Reuters. Archived from the original on 25 September 2015. Retrieved 16 November 2013.
  143. ^ "The Keiretsu of Japan". San José State University. Archived from the original on 29 July 2016. Retrieved 9 October 2013.
  144. ^ Rushe, Dominic. "Chinese banks top Forbes Global 2000 list of world's biggest companies". The Guardian. Archived from the original on 3 March 2016. Retrieved 9 October 2013.
  145. ^ "Tourism Highlights 2013 Edition" (PDF). World Tourism Organization. Archived from the original (PDF) on 30 October 2013. Retrieved 8 December 2013.
  146. ^ "Japan marks new high in tourism". Bangkok Post. 9 January 2014. Retrieved 9 January 2014.
  147. ^ a b c "Attracting more tourists to Japan". The Japan Times. 6 January 2014. Archived from the original on 3 March 2016. Retrieved 9 January 2014.
  148. ^ Williams, Carol (11 December 2013). "Record 2013 tourism in Japan despite islands spat, nuclear fallout". Los Angeles Times. Archived from the original on 9 January 2014. Retrieved 9 January 2014.
  149. ^ Takahara, Kanako (8 July 2008). "Boom time for Hokkaido ski resort area". The Japan Times. Archived from the original on 22 October 2016. Retrieved 9 January 2014.
  150. ^ "International tourism, number of arrivals - United States, Japan, Germany, United Kingdom, France, Italy, Canada | Data". data.worldbank.org. Archived from the original on 19 March 2020. Retrieved 16 March 2020.
  151. ^ Silver, Nate (18 August 2014). "The Countries Where You're Surrounded By Tourists". FiveThirtyEight. Archived from the original on 19 March 2020. Retrieved 16 March 2020.
  152. ^ "International tourism, receipts (current US$) | Data". data.worldbank.org. Archived from the original on 31 July 2020. Retrieved 17 March 2020.
  153. ^ "GDP (current US$) | Data". data.worldbank.org. Archived from the original on 31 July 2020. Retrieved 17 March 2020.
  154. ^ "Global Rankings 2018 | Logistics Performance Index". lpi.worldbank.org. Archived from the original on 2 January 2014. Retrieved 18 March 2020.
  155. ^ "Global Rankings 2018 | Logistics Performance Index". lpi.worldbank.org. Archived from the original on 24 December 2020. Retrieved 18 March 2020.
  156. ^ Chapter 7 Energy Archived 5 January 2013 at the Wayback Machine, Statistical Handbook of Japan 2007
  157. ^ Hiroko Tabuchi (13 July 2011). "Japan Premier Wants Shift Away From Nuclear Power". The New York Times. Archived from the original on 6 January 2017. Retrieved 7 February 2017.
  158. ^ Kazuaki Nagata (3 January 2012). "Fukushima meltdowns set nuclear energy debate on its ear". The Japan Times. Archived from the original on 23 January 2013. Retrieved 5 October 2013.
  159. ^ "Japan goes nuclear-free indefinitely". CBC News. 15 September 2013. Archived from the original on 29 October 2013. Retrieved 9 November 2013.
  160. ^ "Nuclear reactor restarts in Japan displacing LNG imports in 2019 - Today in Energy - U.S. Energy Information Administration (EIA)". www.eia.gov. Archived from the original on 10 March 2020. Retrieved 18 March 2020.
  161. ^ Pollack, Andrew (1 March 1997). "Japan's Road to Deep Deficit Is Paved With Public Works". The New York Times. Archived from the original on 4 February 2009. Retrieved 15 November 2013.
  162. ^ Chapter 9 Transport Archived 27 April 2011 at the Wayback Machine, Statistical Handbook of Japan
  163. ^ "Why Does Japan Drive On The Left?". 2pass. Archived from the original on 5 January 2017. Retrieved 11 November 2013.
  164. ^ All-Japan Road Atlas.
  165. ^ a b c "Prius No. 1 in Japan sales as green interest grows". USA Today. 8 January 2013. Archived from the original on 9 November 2013. Retrieved 9 November 2013.
  166. ^ The Association of Japanese Private Railways. 大手民鉄の現況（単体） (PDF) (in Japanese). Archived from the original (PDF) on 4 March 2012. Retrieved 27 November 2010.
  167. ^ Nagata, Takeshi; Takahasi, Kentaro (5 November 2013). "Osaka dept stores locked in scrap for survival". The Japan News. Yomiuri Shimbun. Archived from the original on 12 November 2013. Retrieved 12 November 2013.
  168. ^ "What is Shinkansen (bullet train)? Most convenient and the fastest train service throughout Japan". JPRail.com. 8 January 2011. Archived from the original on 28 June 2014. Retrieved 12 November 2013.
  169. ^ Onishi, Norimitsu (28 April 2005). "An obsession with being on time". The New York Times. Archived from the original on 19 October 2014. Retrieved 11 November 2013.
  170. ^ Aoki, Mizuho (7 February 2013). "Bubble era's aviation legacy: Too many airports, all ailing". The Japan Times. Archived from the original on 8 December 2015. Retrieved 11 November 2013.
  171. ^ Mastny, Lisa (December 2001). "Traveling Light New Paths for International Tourism" (PDF). Worldwatch Paper. Archived from the original (PDF) on 8 July 2018. Retrieved 11 November 2013.
  172. ^ "Year to date Passenger Traffic". Airports Council International. 8 November 2013. Archived from the original on 29 January 2017. Retrieved 11 November 2013.
  173. ^ "Narita airport prepares for battle with Asian hubs". The Japan Times. 25 October 2013. Archived from the original on 11 November 2016. Retrieved 12 November 2013.
  174. ^ "The JOC Top 50 World Container Ports" (PDF). JOC Group Inc. Archived (PDF) from the original on 3 March 2016. Retrieved 11 November 2013.
  175. ^ "Nuclear Power in Japan". World Nuclear Association. November 2013. Archived from the original on 13 May 2014. Retrieved 15 November 2013.
  176. ^ "Japan's Energy Supply Situation and Basic Policy". FEPC. Archived from the original on 11 July 2016. Retrieved 15 November 2013.
  177. ^ "Japan". Energy Information Administration. Archived from the original on 3 December 2013. Retrieved 15 November 2013.
  178. ^ Iwata, Mari (12 November 2013). "Fukushima Watch: Some Power Companies in Black without Nuclear Restarts". The Wall Street Journal. Archived from the original on 13 November 2013. Retrieved 15 November 2013.
  179. ^ "A lesson in energy diversification". The Japan Times. 1 November 2013. Archived from the original on 11 August 2016. Retrieved 15 November 2013.
  180. ^ "Japan to invest $10 billion in global LNG infrastructure projects: minister". Reuters. 26 September 2019. Archived from the original on 26 September 2019. Retrieved 26 September 2019.
  181. ^ Tsukimori, Osamu; Kebede, Rebekah (15 October 2013). "Japan on gas, coal power building spree to fill nuclear void". Reuters. Archived from the original on 11 February 2016. Retrieved 15 November 2013.
  182. ^ "International Energy Statistics". Energy Information Administration. Archived from the original on 4 March 2016. Retrieved 15 November 2013.
  183. ^ Watanabe, Chisaki (31 October 2013). "Kyocera Boosts Solar Sales Goal on Higher Demand in Japan". Bloomberg. Archived from the original on 15 November 2013. Retrieved 15 November 2013.
  184. ^ Maeda, Risa (25 October 2013). "Japan kerosene heater sales surge on power worries". Reuters. Archived from the original on 10 March 2016. Retrieved 15 November 2013.
  185. ^ "Japan may soon get London-style taxis". The Asahi Shimbun. 11 July 2013. Archived from the original on 3 December 2013. Retrieved 15 November 2013.
  186. ^ Suzuki, Takuya (1 May 2013). "Japan, Saudi Arabia agree on security, energy cooperation". The Asahi Shimbun. Archived from the original on 4 March 2016. Retrieved 15 November 2013.
  187. ^ "Abe clinches nuclear technology deal with Abu Dhabi". The Japan Times. 3 May 2013. Archived from the original on 11 August 2016. Retrieved 15 November 2013.
  188. ^ "NYSE Calendar". New York Stock Exchange. 31 January 2007. Archived from the original on 11 October 2007. Retrieved 7 February 2014.
  189. ^ "China becomes world's third largest stock market". The Economic Times. 19 June 2010. Archived from the original on 1 February 2014. Retrieved 7 February 2014.
  190. ^ a b "Japan approves merger of Tokyo and Osaka exchanges". BBC News. 5 July 2012. Archived from the original on 19 April 2013. Retrieved 7 February 2014.
  191. ^ "The Nikkei 225 Index Performance". Finfacts. Archived from the original on 7 May 2016. Retrieved 7 February 2014.
  192. ^ "Tokyo Stock Exchange Tokyo Price Index TOPIX". Bloomberg. Archived from the original on 9 February 2014. Retrieved 7 February 2014.
  193. ^ Smith, Simon (22 January 2014). "Horizons introduces leveraged and inverse MSCI Japan ETFs". eftstrategy.com. Archived from the original on 5 January 2017. Retrieved 7 February 2014.
  194. ^ "About JSCC History". Japan Securities Clearing Corporation. Archived from the original on 23 April 2016. Retrieved 7 February 2014.
  195. ^ OECD Labour Force Statistics 2020, OECD, 2020, doi:10.1787/23083387, ISBN 9789264687714
  196. ^ "雇用情勢は一段と悪化、５月失業率は５年８カ月ぶり高水準(Update3)". Bloomberg. 30 June 2009. Archived from the original on 21 July 2012. Retrieved 1 February 2013.
  197. ^ Fujioka, Toru (29 June 2009). "Japan's Jobless Rate Rises to Five-Year High of 5.2% (Update2)". Bloomberg News. Bloomberg. Retrieved 1 February 2013.
  198. ^ Rochan, M (31 January 2014). "Japan's Unemployment Rate Drops to Six-Year Low Amid Rising Inflation". International Business Times. Archived from the original on 10 August 2016. Retrieved 29 April 2014.
  199. ^ "Will Abenomics Ensure Japan's Revival?" (PDF). The New Global. Archived (PDF) from the original on 13 March 2016. Retrieved 19 June 2013.
  200. ^ Traphagan, John (4 August 2014). "Japan's Biggest Challenge (and It's Not China): A Plummeting Population". The National Interest. Archived from the original on 6 August 2014. Retrieved 7 August 2014.
  201. ^ "Japan population starts to shrink". 22 December 2005. Archived from the original on 30 July 2020. Retrieved 17 March 2020.
  202. ^ Oishi, Nana (2012). "The Limits of Immigration Policies: The Challenges of Highly Skilled Migration in Japan". American Behavioral Scientist. 56 (8): 1080–1100. doi:10.1177/0002764212441787. S2CID 154641232.
  203. ^ "Japan cries 'Help wanted,' but few foreigners heed the call". Nikkei Asian Review. Archived from the original on 6 August 2023. Retrieved 17 March 2020.
  204. ^ "Number of Potential Migrants Worldwide Tops 700 Million". Gallup.com. 8 June 2017. Archived from the original on 2 August 2023. Retrieved 16 March 2020.
  205. ^ "Interactive charts by the OECD". OECD Data. Archived from the original on 27 September 2022. Retrieved 16 March 2020.
  206. ^ "Interactive charts by the OECD". OECD Data. Archived from the original on 27 June 2022. Retrieved 28 March 2020.
  207. ^ "Interactive charts by the OECD". OECD Data. Archived from the original on 2 October 2023. Retrieved 28 March 2020.
  208. ^ "Economy Rankings". Doing Business. Archived from the original on 6 February 2015. Retrieved 25 November 2013.
  209. ^ a b c OECD: Economic survey of Japan 2008 Archived 9 November 2010 at the Wayback Machine
  210. ^ Temple-West, Patrick; Dixon, Kim (30 March 2012). "US displacing Japan as No 1 for highest corp taxes". Reuters. Archived from the original on 31 December 2012. Retrieved 1 February 2014.
  211. ^ Isidore, Chris (27 March 2012). "U.S. corporate tax rate: No. 1 in the world". CNNMoney. Archived from the original on 3 February 2014. Retrieved 1 February 2014.
  212. ^ "Update: Lower House passes bills to double consumption tax". The Asahi Shimbun. 26 June 2012. Archived from the original on 22 June 2013. Retrieved 25 November 2013.
  213. ^ "Big firms to see tax cut on social expenses". The Japan News. 24 November 2013. Archived from the original on 25 July 2014. Retrieved 25 November 2013.
  214. ^ "Japan to Phase Out Automobile Tax". NASDAQ. 21 November 2013. Archived from the original on 2 December 2013. Retrieved 25 November 2013.
  215. ^ a b "Overhyped, underappreciated". The Economist. ISSN 0013-0613. Archived from the original on 31 July 2016. Retrieved 31 July 2016.
  216. ^ "IMF urges Japan to 'reload' Abenomics". Financial Times. 20 June 2016. Archived from the original on 27 June 2016. Retrieved 31 July 2016.
  217. ^ "Japan: Staff Concluding Statement of the 2016 Article IV Mission". www.imf.org. Archived from the original on 25 January 2017. Retrieved 31 July 2016.
  218. ^ Pesek, William (3 July 2012). "Shareholder Activism in Japan? Not Yet". Bloomberg. Archived from the original on 2 December 2013. Retrieved 25 November 2013.
  219. ^ Nagata, Kazuaki (27 April 2015). "New rules are pushing Japanese corporations to tap more outside directors". The Japan Times Online. ISSN 0447-5763. Archived from the original on 17 July 2016. Retrieved 31 July 2016.
  220. ^ "5. Report for Selected Countries and Subjects". International Monetary Fund. Archived from the original on 11 August 2013. Retrieved 25 November 2013.
  221. ^ Keck, Zachary (10 August 2013). "Japan's Debt About 3 Times Larger Than ASEAN's GDP". The Diplomat. Archived from the original on 3 December 2013. Retrieved 25 November 2013.
  222. ^ Einhorn, Bruce (9 August 2013). "Japan Gets to Know a Quadrillion as Debt Hits New High". Bloomberg. Archived from the original on 11 August 2013. Retrieved 25 November 2013.
  223. ^ "Kan warns of Greece-like debt crisis " Japan Today: Japan News and Discussion". Japantoday.com. 11 June 2010. Archived from the original on 24 September 2012. Retrieved 1 February 2013.
  224. ^ "Japan's forex reserves up for second straight month". Kuwait News Agency. 6 June 2014. Archived from the original on 3 March 2016. Retrieved 3 July 2014.
  225. ^ Mayuko Tani (20 March 2018). "AirAsia had talks with cash-strapped HNA over asset purchases". Nikkei Asian Review. Archived from the original on 24 July 2018. Retrieved 4 September 2018.
  226. ^ Imai, Masaaki (1986). Kaizen: The Key to Japan's Competitive Success. New York, NY: Random House.
  227. ^ Europe Japan Centre, Kaizen Strategies for Improving Team Performance, Ed. Michael Colenso, London: Pearson Education Limited, 2000
  228. ^ "Interactive charts by the OECD". OECD Data. Retrieved 16 March 2020.
  229. ^ "Japan's Economy: Free at last". The Economist. 20 July 2006. Archived from the original on 10 March 2010. Retrieved 29 March 2007.
  230. ^ "Going hybrid". The Economist. Archived from the original on 16 January 2010. Retrieved 3 March 2015.
  231. ^ Asgari, Behrooz; Pickar, Peter; Garay, Victoria (2016). "Karoshi and Karou-jisatsu in Japan: causes, statistics and prevention mechanisms" (PDF). Asia Pacific Business & Economics Perspectives. 4 (2): 49–72. Archived (PDF) from the original on 30 November 2021. Retrieved 23 October 2021.
  232. ^ Lenders of first resort Archived 3 August 2008 at the Wayback Machine, The Economist, 22 May 2008
  233. ^ "松坂屋「ひと・こと・もの」語り". Matsuzakaya.co.jp. Archived from the original on 12 May 2016. Retrieved 1 February 2013.
  234. ^ "Japan Again Plans Huge Corporations" Archived 23 July 2018 at the Wayback Machine. The New York Times. 17 July 1954.
  235. ^ Tomeczek, Artur (June 2022). "The evolution of Japanese keiretsu networks: A review and text network analysis of their perceptions in economics". Japan and the World Economy. 62. doi:10.1016/j.japwor.2022.101132. S2CID 247298887. Retrieved 1 December 2023.
  236. ^ "M&A Statistics by Countries - Institute for Mergers, Acquisitions and Alliances (IMAA)". Institute for Mergers, Acquisitions and Alliances (IMAA). Archived from the original on 27 November 2020. Retrieved 26 February 2018.
  237. ^ Current account balance, U.S. dollars, Billions from IMF World Economic Outlook Database, April 2008
  238. ^ "International Investment Position of Japan (End of 2009)". Ministry of Finance, Japan. Archived from the original on 11 July 2016. Retrieved 8 May 2011.
  239. ^ "「日本売り」なぜ起きない 円安阻むからくりに迫る". Nihon Keizai Shimbun. 8 May 2011. Archived from the original on 9 November 2011. Retrieved 8 May 2011.
  240. ^ "Japanese Business Briefs". Archived from the original on 13 April 2021. Retrieved 13 April 2021.
[edit]
Wikimedia Commons has media related to Economy of Japan.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Economy_of_Japan&oldid=1264407783"