Thanks to the Ukraine-Russian war, inflation and the weak yen, approximately 50 per cent of companies in Japan are expecting the country’s economy to grow in 2023, according to the survey done by Kyodo News. The most obvious signals are the soaring prices of raw materials and natural resources.
The survey was conducted across more than 100 companies including conglomerates such as Softbank Group Corp and Toyota Motor Corp. 65 companies or 56 per cent are expecting a solid year of expansion or moderate growth. This is down from 84 per cent based on the survey made last year. The overall percentage of companies optimistic about growth was at its second lowest in 10 years in the survey.
