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Japan Times
6 days ago
- Business
- Japan Times
Welcoming foreign residents benefits Japan, three quarters of economists say
About three quarters of economists say an increase in foreign residents in Japan is beneficial for Japanese citizens overall, according to a joint survey by the Japan Center for Economic Research (JCER) and the Nikkei daily. The survey of around 50 prominent Japanese economists was carried out between July 18 and July 28, and released on July 30. Policies relating to foreign residents emerged as a key issue ahead of the recent Upper House election, held July 20. 'By creating an environment where they can overcome differences in language, culture and customs, and demonstrate their abilities — such as improving education for foreign exchange students — foreign workers will contribute to alleviating the labor shortage and improve productivity. And, as a result, it will lead to an improvement in the standard of living of Japanese people,' said Makoto Hasegawa, an associate professor at Kyoto University who was one of the respondents. When asked whether the increase in foreign residents would contribute to improving the average living standards of Japanese citizens, 76% responded 'strongly agree' or 'agree,' with many arguing that there should be measures to better integrate them in society. Just 2%, or one economist, 'disagreed.' Yasushi Iwamoto, a professor at the University of Tokyo and the only respondent who 'disagreed,' said he did so to sound a warning. 'There are many countries in which their immigration policies have failed because they've only seen foreigners as a labor force, rather than people who live as members of society,' he explained. 'Japan's policies are taking a similar approach, so, if the costs are not considered, overall living standards will eventually decline.' Another 15% of respondents said they were 'uncertain,' citing various factors like skill levels among those arriving from overseas. A majority of respondents (66%) also took the view that an increased number of foreign residents would help improve Japan's fiscal health. The number of foreign residents in Japan hit a record high at 3.76 million as of the end of last year, comprising just over 3% of the population, with the figure steadily increasing. Courting an increase in foreign skilled labor has long been a government policy priority as a means to tackle the country's labor shortage. However, there has been a shift in the political discourse, with the government tightening restrictions to crack down, for instance, on foreign residents who have failed to pay pension premiums and health care fees. Japan's weak yen has given many foreign tourists outsized spending power, while inflation has been taking a toll on Japanese households. Such factors have helped fuel a political message that Japan is being exploited. In the survey, a number of the economists highlighted the need for nuance to avoid the conflation of 'foreigners' who may be in Japan temporarily, and long-term, committed foreign residents. While Japan has fairly stringent bureaucracy, in some areas its regulations are more liberal than other countries — such as those around property ownership, where there are relatively few restrictions placed on overseas buyers. On this subject, 32% of economists said it would be desirable to strengthen regulations on real estate purchases by foreign nationals and foreign companies while 21% said they 'strongly disagree' or 'disagree.' Hisaki Kono, an associate professor at Kyoto University, who 'agreed' with such a move, said that nonresident foreigners and foreign workers should be subject to additional taxation when they purchase real estate, while foreign residents with permanent residency should be treated the same as Japanese nationals. 'This will help keep housing prices from rising, which will benefit Japanese people along with permanent foreign residents who are contributing to the Japanese economy,' he said.
Nikkei Asia
7 days ago
- Business
- Nikkei Asia
Japan's GDP shrinks at an annualized 0.1% in June: JCER
The Japanese economy declined in June, despite solid growth in private capital investment. © Reuters RYOHTAROH SATOH August 13, 2025 22:53 JST TOKYO -- Japan's economy contracted at an annualized pace of 0.1% in June from the previous month, as a solid rebound in private capital investment was offset by weaker net exports, according to an estimate released by the Japan Center for Economic Research (JCER) on Tuesday.
Nikkei Asia
09-07-2025
- Business
- Nikkei Asia
Japan GDP growth rebounds to annualized 0.9% in May: JCER
A rebound in business investment in Japan contributed to an upturn in the economy in May. © Reuters Nikkei staff writers TOKYO -- Japan's economy grew at an annualized pace of 0.9% in May from the previous month, led by private-sector capital expenditures, according to an estimate released by the Japan Center for Economic Research (JCER) on Wednesday. The growth marks a sharp reversal from the previous month, when the Nikkei-affiliated think tank estimated that the economy contracted an annualized 0.7%. If the economic growth maintains the April-May pace, the nation's gross domestic product could rise by an annualized 0.9% in inflation-adjusted real terms in the second quarter of this year compared to the preceding quarter, JCER said.
Nikkei Asia
11-06-2025
- Business
- Nikkei Asia
Japan's GDP shrank an annualized 0.7% in April, JCER estimates
TOKYO -- Japan's economy shrank at an annualized 0.7% in April versus the previous month due to sluggish domestic demand and an increase in imports, according to an estimate released by the Japan Center for Economic Research (JCER) on Wednesday. The Nikkei-affiliated think tank said that if the economy remains at a similar level in May and June, real gross domestic product could fall by an annualized 4.2% in the April-June period compared to the preceding quarter.
Nikkei Asia
14-05-2025
- Business
- Nikkei Asia
Japan's economy slips 0.5% in March: JCER
TOKYO -- Japan's economy shrank at an annualized 0.5% in March versus the previous month as exports, including automobiles, declined due to rising fears over U.S. trade policies, according to an estimate released by the Japan Center for Economic Research (JCER) on Wednesday. Japanese exports of goods and services declined 2.6% for the month. Exports to the U.S. recorded the sharpest fall at 7.8%, while those to China dropped 6.8%, offsetting the 1.4% rise in exports to the European Union.
