Japan Economist, Japan Macro Advisors

Takuji Okubo

Japan Economist

Concise and Insightful Analysis on Japan Economy

Japan Macro Advisors

Our mission is to provide a concise and timely analysis on the Japanese economy for the benefit of global audiences. Communication, especially in foreign languages, has always been a weakness for the Japanese, which was fine when Japan's economic might attracted foreign media and various other institutions to study and report on Japan - such days are long gone. In the last two decades, we saw foreign institutions reallocating their resources from Japan to other more exciting parts of the world. As a result, when we read reporting on Japan in foreign media, we sense a subtle but noticeable decline in the depth of understanding what is actually happening in Japan.

Macroeconomics

<p>BoJ Governor Kuroda is starting to resemble these government officials being hauled into the parliament to give explanations they themselves do not believe in and prove counter-factual. On April 27, the BoJ policy board concluded its first policy meeting in Kuroda's second term. BoJ kept its policy unchanged but made an important change to its policy outlook. Since 2013, the BoJ under Governor Kuroda kept an explicit mention of when it expects its 2% inflation target to be achieved. In the April…</p>

BoJ Governor Kuroda is starting to resemble these government officials being hauled into the parliament to give explanations they themselves do not believe in and prove counter-factual. On April 27, the BoJ policy board concluded its first policy meeting in Kuroda's second term. BoJ kept its policy unchanged but made an important change to its policy outlook. Since 2013, the BoJ under Governor Kuroda kept an explicit mention of when it expects its 2% inflation target to be achieved. In the April…

<div class="content-highlight"><p>The opposition parties seem to be losing momentum in pursuing the responsibility of Prime Minister Abe for the cronyism scandal. However, we are seeing signs of erosion in the support for PM Abe within his party. Ultimately, the polling results would set the course, but we think it is more likely that the ruling party would decide against letting PM Abe continue as their leader when his term expires this September.  </p></div><h2>The testimony was a success for Prime Minister Abe</h2><p>The parliamentary testimony on…</p>

The opposition parties seem to be losing momentum in pursuing the responsibility of Prime Minister Abe for the cronyism scandal. However, we are seeing signs of erosion in the support for PM Abe within his party. Ultimately, the polling results would set the course, but we think it is more likely that the ruling party would decide against letting PM Abe continue as their leader when his term expires this September.  The testimony was a success for Prime Minister AbeThe parliamentary testimony on…

PM Abe Facing Erosion of Support from His Party

<p>Poll results reported by various media this weekend showed that the approval rate for Prime Minister Abe is falling to new lows, raising a possibility that his government will not last for long. In three out of four media polls reported on Sunday, Asahi, Mainichi, Nippon TV and Kyodo, the approval rate hit the lowest rate since the current Abe government started in late 2012.  <a href="http://www.ntv.co.jp/yoron/201803/soku-index.html" target="_blank">Nippon TV's poll</a> put the approval rate at 30.3% and the disapproval rate at 53.0%. Among media polls we have been…</p>

Poll results reported by various media this weekend showed that the approval rate for Prime Minister Abe is falling to new lows, raising a possibility that his government will not last for long. In three out of four media polls reported on Sunday, Asahi, Mainichi, Nippon TV and Kyodo, the approval rate hit the lowest rate since the current Abe government started in late 2012.  Nippon TV's poll put the approval rate at 30.3% and the disapproval rate at 53.0%. Among media polls we have been…

Abe Government Unlikely to Last Beyond This Summer

<p>After the landslide electoral victory in 2017, it looked certain that Prime Minister Abe would stay on for a few more years. A new development in a year-old cronyism scandal raises a possibility that he may not survive 2018 as Japan's Prime Minister. </p><p>PM Abe already survived a crisis in 2017. In the earlier part of 2017, the approval rate for Prime Minister Abe plummeted as he was mired in a series of scandals. The cabinet approval rate hit a low of 34% in July 2017. However, when the largest…</p>

After the landslide electoral victory in 2017, it looked certain that Prime Minister Abe would stay on for a few more years. A new development in a year-old cronyism scandal raises a possibility that he may not survive 2018 as Japan's Prime Minister. PM Abe already survived a crisis in 2017. In the earlier part of 2017, the approval rate for Prime Minister Abe plummeted as he was mired in a series of scandals. The cabinet approval rate hit a low of 34% in July 2017. However, when the largest…

Japan: Policy Implications from the Document-Tampering Scandal

<p>Until recently, foreign workers were not of macroeconomic concern as the number was too small. As foreign workers now account for 2% of the total workforce and the number is growing nearly 20% per year, it could soon start to have a meaningful economic impact on Japan's labor market, consumption and most importantly, on the longer-term growth outlook for Japan. <br><br>The official stance of the Japanese government, especially that of the current Prime Minister Abe, is that Japan is not open to…</p>

Until recently, foreign workers were not of macroeconomic concern as the number was too small. As foreign workers now account for 2% of the total workforce and the number is growing nearly 20% per year, it could soon start to have a meaningful economic impact on Japan's labor market, consumption and most importantly, on the longer-term growth outlook for Japan.   The official stance of the Japanese government, especially that of the current Prime Minister Abe, is that Japan is not open to…

Japan

TOPIX-Banks Index is a capitalization-weighted index of all the banks listed on the First Section of the Tokyo Stock Exchange and is one of the 33 industry sectors of the TOPIX Index (TPX). The index was developed with a base value of 1000 as of January 6, 1992. The parent index is TPX.

TOPIX Banks Index (TPNBNK INDEX)

Governor Kuroda, Please Stop Lying

BoJ Governor Kuroda is starting to resemble these government officials being hauled into the parliament to give explanations they themselves do not...

Takuji Okubo

PM Abe Facing Erosion of Support from His Party

The opposition parties seem to be losing momentum in pursuing the responsibility of Prime Minister Abe for the cronyism scandal. However, we are...

Takuji Okubo

Abe Government Unlikely to Last Beyond This Summer

Poll results reported by various media this weekend showed that the approval rate for Prime Minister Abe is falling to new lows, raising a...

Takuji Okubo

Japan: Policy Implications from the Document-Tampering Scandal

After the landslide electoral victory in 2017, it looked certain that Prime Minister Abe would stay on for a few more years. A new development in a...

Takuji Okubo

The Rise of Foreign Workers in Japan

Until recently, foreign workers were not of macroeconomic concern as the number was too small. As foreign workers now account for 2% of the total...

Takuji Okubo