The recession continues to take its toll here, with the export-centric Japanese economy shrinking at an annualized rate of 12.7% over the last quarter, the biggest decline since the “oil shock” of 1974. I’m impressed the calmness everyone in Japan has been displaying over the rough economy, but not surprised: after the hard times of the 1990s, the Japanese are professional recession-beaters, and are taking things in stride, knowing that the economy will improve. As is to be expected in any downturn, certain industries are doing worse than others. While virtually every well-known manufacturer of electronics has fallen into the red, convenience stores and low-priced conveyor-belt sushi restaurants are booming, and television production has been helped by the impending switch to digital broadcasting, too. Happily, there are some signs that the worst of the recession is behind us, as the government reports positive numbers on the rise for the first time. Production is starting to come back, too, and Toyota, Honda and Mazda are all resuming full factory output next month.
Just a last reminder that J-List continuing our “Fiscal Year is Ending” sale through the end of the month, in which we’ll give you a $5 gift certificate code for every $100 you spend on the site. This means you’ve got an excuse to add another few items to your cart if you’re just under the next $100 level, and save money. The gift coupons will be issued as your order is processed, and never expire — you can use them any time. What great products from Japan can we get for you today? Hurry, though!
Better times ahead for Japan? Automakers resume full production by next month.
