At a Japan Society forum today in New York, a deputy to Prime Minister Shinzo Abe suggested that the third “arrow” of his economic rejuvenation policies, the reform element or “growth strategy,” be given an A- grade to date. The granularity was of help to a foreign audience, although skepticism about the overall Japanese recovery is growing as the latest GDP numbers showed a tailing off.
Abenomics is seen as the miracle cure for Japan Inc's bottom line. And as results season kicks into high gear, market watchers will be looking for signs of improvement. An earnings boost from a weaker yen practically a given, they'll want to see Japan's companies are opening their wallets again.
"As part of the U.S. pivot to Asia, Andy, President Barack Obama in Tokyo last week. Now he did more than eat sushi, obviously, with Prime Minister Abe, but they didn't pull off a trade deal. Is this a big miss for Abenomics?"
French President Francois Hollande meets with Japanese Prime Minister Shinzo Abe in Tokyo, as part of a three day state visit. It comes at an interesting time for Japan's economy, which saw the yen mark its biggest one day climb against the dollar in three years on Thursday. That highlights the fragility of Abe's aggressive fiscal and monetary policies, dubbed "Abenomics" which are aimed at reviving the country's sluggish economy by encouraging a weaker yen.
Meet the "Bra-nomics" - the latest business venture looking to cash in on the buzz surrounding Japan's prime minister. "They make your chest grow 2%, just like the recovering economy!" The thing is, they're not even for sale. The company designed this racy underwear just to boost its corporate profile. It's one example of a common marketing tactic called "binjo shoho" in Japan - literally, 'jumping on the bandwagon.'