AFTER ALMOST FIFTEEN years, Japan is finally showing sustained signs of shaking off its economic malaise. GDP growth figures have risen for four consecutive quarters, hitting a 13-year high of 7% in the first quarter this year. Standard & Poor’s raised seven ratings on Japanese corporations and financial institutions between January and March this year, continuing the trend from 2003, the first year in which upgrades exceeded downgrades since 1990.
A recent survey conducted by the Nikkei newspaper using the results of some 1,780 companies, indicated that capital expenditure in the manufacturing sector was expected to rise by 10% this fiscal year, compared to a 6% rise in FY2003.
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