Japan Update

March Unemployment Rises to 2.5% Listed Companies Expect March 2020 Net Profit to be Down 46% Start-ups Cancel Office Rental Contracts as Telework Takes Hold  March Unemployment

BoJ: 40% of Overseas Bonds Held by Japanese Banks Rated BBB Construction Stops at Most Sites in Japan Government Seeks Protection from Overseas TOBs for Drugs, Medical

Japanese Exports to US, China Down in March Regional Banks Will Allow Delayed Payment of Notes ¥25 Trillion Supplementary Budget Proposed BoJ to Provide Six-Day US Dollar Loans

Abe Extends State of Emergency Nationwide March Tourist Arrivals Plummet 93% Japanese Megabanks Will No Longer Fund Coal BoJ Can’t Stop Buying ETFs Tokyo Gubernatorial Election July 5 Megabanks Sold

100 Presidents Questionnaire Sheds Light on Virus Impact Central Tokyo Daytime Population Drops 65% US Dollar Currency in Circulation Jumps Narita Airport Closes One Runway as Traffic Drops Softbank

March Economy Watcher’s Index Hits Record Low  The Cabinet Office released its Economy Watcher’s Index for March on Wednesday. The concurrent index fell 13.2 points form February to 14.2—worse

Abe to Declare State of Emergency, Offers ¥108 Trillion Package March Consumer Confidence Drops 7.4 Points As If it Wasn’t Bad Enough Dept: What If Mt. Fuji

Coronavirus Whacks BoJ Tankan  Coronavirus Whacks BoJ Tankan  The Bank of Japan released its quarterly Tankan report on Wednesday. The diffusion index for large manufacturers fell

Corporate Tax Rebates to be Expanded as Package Tops ¥60 Trillion BoJ Will Continue to Trade with Banks that Fail Capitalization Standards Demand for US Dollars Past

1-Year Tax Extension for SMEs Toyota Motor (7203) Asks For ¥1 Trillion Commitment Line FY 2020 Supplementary Budget Expected to Pass by End April On the Lighter Side