Japanese companies’ growth expectations decline

Growth expectations of companies in Japan fell. According to a study conducted in the country, 56 percent of companies expect growth in the country’s economy in 2023 due to the increase in power and raw material costs. This rate was 84 percent last year.

The market research of the Japanese official Kyodo agency, which included 117 large companies, including Toyota and SoftBank, questioned the comprehensive growth prospects of Japanese companies for 2023.

Accordingly, 65, corresponding to 56 percent of the companies participating in the survey, announced that they expect “solid or moderate growth in Japan’s economy” this year.

At the beginning of last year, this rate was recorded as 84 percent.

Firms claimed that the Russia-Ukraine crisis and the increase in power and raw material costs in global markets may affect the growth of the Japanese economy this year as well.

While 34 percent of the participating companies expect calm in the country’s economy and 7 percent expect a measured contraction, no firm foresees a recession in the economy.