Japanese Prime Minister Naoto Kan’s 5.1 trillion yen ($62 billion) stimulus plan won’t solve a mismatch in supply and demand responsible for the nation’s falling prices, according to Meiji Yasuda Life Insurance Co.
Japan’s exports fell in May for the first time in 15 months on weak demand from the U.S. and Asia, adding to challenges for Prime Minister Shinzo Abe as he tries to steer the economy through a forecast contraction this quarter.
Half a year after Bank of Japan Governor Haruhiko Kuroda unleashed record monetary easing, economists see the bank failing to meet its inflation target, underscoring the case for stronger steps to revive the economy.
Shoko Iwasaki looked for years for a tax-free way to pass down a lifetime of savings to her grandson. Prime Minister Shinzo Abe has offered the 71-year-old an answer with a program now helping unlock pensioners’ hoarded wealth.