MI2's Global Macro Summit

September 26-29| Vail, CO

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Japan Update

ALL PUBLICATIONS

June 1, 2023
• Quarterly Corporate Report Shows Record Recurring Profit • Keidanren Chief Calls for More Wage Hikes • Weak Semiconductor Production Equipment Exports Dent April Production • Asian Petrochemical Prices Down on Weak China Demand • May Consumer Sentiment Higher
May 30, 2023
• MoF, FSA, BoJ Meet to Discuss Weak Yen, Ueda Downplays Policy Change • May Tokyo Core CPI Rises 3.2% • April Unemployment Drops to 2.6% • Tax Agency Rules Stock Options Are Wages • Scandal Hurts Kishida’s Approval Rating, Snap Election Likely Delayed
May 24, 2023
  • FY 2022 Real Wages Fall 1.8%
  • Megabanks’ Unrealized Loss on Overseas Bonds Declined 40%
  • US Navy Will Use Japan Private Sector Shipyards for Maintenance
May 22, 2023
• April Core CPI Rises 3.4% • BoJ’s Ueda Warns Against Raising Rates Too Soon • Keidanren: Large Companies Raised Wages by 3.91% • Nikkei 225 Index Tops 31,000 • Machinery Orders Up 2.6% in January-March Quarter • Isshin no Kai Rejects Joining Ruling Coalition
May 18, 2023
  • April Trade Deficit Shrinks as Oil Imports Fall
  • April Tourist Arrivals Near 2.0 million
  • January-March GDP Rises 1.6%
  • Nikkei Tops 30,000 On Foreign Buying
  • Semiconductor Companies to Invest ¥2 Trillion in Japan
  • April New Condos for Sale Fall 30%
May 16, 2023
• Corporate Price Index Up 5.8% in April • April Machine Tool Orders Drop 14% on Weak China Demand • Megabanks See Better FY 2023 Earnings • JGB Short Sellers Pause • Regional Banks’ Unrealized Bond Losses Quintuple
May 12, 2023
  • Spring Wage Negotiations Yield Biggest Increase Since FY 1992
  • Kishida Scrambles to Secure Defense Funding
  • SBI Holdings (8473) Launches TOB for SBI Shinsei Bank (8303)
May 11, 2023
• Economy Watcher’s Index Continues Improvement in April • FY 2022 Current Account Surplus Drops 54% • Bankruptcies Due to Higher Prices Double in April • Real Consumption Falls 1.9% in March, Real Wages Drop 2.9% • Nippon Steel (5401) Guides for Lower Earnings on Inventory Loss
May 8, 2023
  • BoJ’s Ueda: Slow and Deliberate
  • Japan, South Korea Seek Closer Ties
  • Companies Expect to Raise Prices During FY 2023