Japan, Government of: Climate transition strategy and financing plans are credit positive, but challenges remain

Government of Japan - A1 stable:Annual credit analysis - Issuer In-Depth – 2024/03/28 – US$ 750.00 – 32 MARCH 28, 2024 - A1 SOVEREIGN AND SUPRANATIONAL Report Number: 1392236 Christian de Guzman (C)2024 Moody's CorporationMoody's Investors Service, Inc.Moody's Analytics, Inc. Moody's Analytics, Inc./ / (a)(b) Moody's CorporationMCOMoody's...

Government of Japan: Largest wage hike in three decades paves the way for further BOJ monetary policy normalization - Issuer Comment – 2024/03/18 – US$ 200.00 – ...PRC regulatory disclosure requirement; and (3) cannot be used within the PRC for any regulatory purpose or for any other purpose which is not permitted under relevant PRC laws or regulations. For the purposes of this disclaimer, "PRC" refers to the mainland of the People's Republic of China, excluding Hong Kong, Macau and Taiwan....

Government of Japan: Slowing economic momentum and easing inflation complicate BOJ policy decisions - Issuer Comment – 2024/02/22 – US$ 200.00 – ...On a real quarter-over-quarter, seasonally adjusted annualized basis Sources: Cabinet Office of Japan, Haver Analytics and Moody's Investors Service...

Government of Japan - A1 stable: Annual credit analysis - Issuer In-Depth – 2023/11/30 – US$ 750.00 – ...The credit profile of Japan reflects the long-term challenge of maintaining the world's largest sovereign debt burden amid an aging population and very low potential growth. It also incorporates the economy's large scale and diversity, its strong external payments position and the high quality of institutions and governance. Although the government remains publicly committed to medium-term fiscal consolidation, rising social spending amid population aging and near-term inflation, as well as defense needs in the context of geopolitical tensions, have challenged the prospects for significant debt reduction. Nevertheless, large private savings underpin high debt affordability and mitigate refinancing risks. Japan's growth performance surpassed most G-20 economies in 2022, partly driven by the reopening dynamics following the delayed exit from the pandemic, as well as its resilience to the pressures stemming from slowing global economic growth. However, amid the uncertain global economic outlook,...

Japan, Government of:Climate transition strategy and financing plans are credit positive, but challenges remain - ESG - Environmental – 2023/11/28 – US$ 750.00 – ...1 GX20231122 2 3 202120231120 4 Carbon Transition ¡ Global: Utilities improve positioning for rapid transition; other high-risk sectors have not, 202311 (https://ratings.moodys.com)/ ...

Government of Japan A1 stable: Update following rating affirmation, outlook unchanged - Credit Opinion – 2023/11/09 – US$ 250.00 – ...The credit profile of Japan reflects the long-term challenge of maintaining the world's largest sovereign debt burden amid an aging population and very low potential growth. It also incorporates the large scale and diversity of the economy, its strong external payments position and the high quality of institutions and governance. Amid an acceleration in inflation since early 2022 and the calibration of monetary policy by the Bank of Japan (BOJ) that has led to rising interest rates, although the resulting erosion in debt affordability will be limited given the favorable debt structure. Additionally, robust domestic liquidity and the continued growth of private sector savings underpins the still high debt affordability and mitigate refinancing risks from Japan's very large debt stock. At the same time, high social spending amid population aging, as well as defense needs in the context of geopolitical tensions, challenges prospects for significant debt reduction in the medium term....

Moody's affirms Japan's A1 ratings; maintains stable outlook - Rating Action – 2023/11/08 – US$ 180.00 – Charter Documents - Director and Shareholder Affiliation Policy." Additional terms for Australia only: Any publication into Australia of this document is pursuant to the Australian Financial Services License of MOODY'S affiliate, Moody's...

Moody's affirms Japan's A1 ratings; maintains stable outlook (Japanese translation) - Rating Action – 2023/11/08 – US$ 180.00 – 7/7 (a)(b) Moody's CorporationMCOMoody's Investors Service, Inc. CPMoody's Investors Service, Inc.1,000500 Moody's Investors Service, Inc.MCOMoody's Investors ServiceMoody's Investors ServiceMCO Moody's Investors Service, Inc.MCO5%...

Government of Japan A1 stable: Regular update - Credit Opinion – 2023/06/20 – US$ 250.00 – ...The credit profile of Japan reflects the long-term challenge of maintaining the world's largest sovereign debt burden amid an aging population and very low potential growth. It also incorporates the large scale and diversity of the economy, its strong external payments position and the high quality of institutions and governance. Although the government continues to be publicly committed to medium-term fiscal consolidation, rising social spending amid population aging and near-term inflation, as well as defense needs in the context of geopolitical tensions, has challenged prospects for significant debt reduction. Nevertheless, large private savings underpin very high debt affordability and mitigate refinancing risks....

Government of Japan: Big companies wage hikes could support consumption, a credit positive, but demand remains fragile - Issuer Comment – 2023/02/27 – US$ 200.00 – ...On 22 February, Toyota Motor Corporation (Toyota, A1 stable) ¡ one of Japan's (A1 stable) largest employers ¡ accepted its union's demands for the biggest hike in salaries in two decades. The hike follows large increases by other major Japanese employers in the spring wage round, including Honda Motor Co., Ltd. (Honda, A2 stable), Nintendo, Suntory Holdings Limited (Baa2 positive) and Uniqlo's parent company, Fast Retailing. If wage gains led to a sustained increase in domestic consumption, that could bolster Japan's fragile economic recovery, a credit positive, as the authorities have struggled to revive demand amid rising food and fuel price inflation. But the country's policymakers face a delicate balancing act to tame rising prices without snuffing out consumer appetite. Toyota did not disclose the size of its salary increase, but Honda has raised wages by about 5%, Suntory by 6%, Nintendo by 10%, and Uniqlo by up to 40%. In December, workers' nominal wages grew 4.6%, the fastest rate...