, Columnist
What Global Slowdown? Japan Inc. Is Roaring Ahead
A subtle change in Abe’s tax policy is giving companies a much-needed boost, and an excuse to ramp up capital spending.
Japan’s string of remarkable industrial data could be thanks to a pretty unremarkable tax-policy change.
Photographer: Buddhika Weerasinghe/BloombergThis article is for subscribers only.
Japan Inc. is getting its groove back. An overlooked policy change could be a driver.
In recent months, Japanese companies have been posting a wave of positive data. Machinery orders — a key indicator of companies’ capital spending in the future — rose 12.6 percent on the year in August to the highest level in a decade, data Wednesday showed, much faster than forecast. Several analysts had expected orders to fall.