Japan Inc. wants Abe election win, but smaller majority – RTRS Survey
Reuters is out with the key findings from its latest corporate survey on Sunday’s Japanese election:
Japan Inc wants Abe election win, but smaller majority
Two-thirds of Japanese firms want Abe to stay, with less power
Companies wary of overconcentration of power after Oct. 22 poll
Many oppose delay to budget balancing, back 2019 sales tax hike
Revising pacifist constitution seen as low priority
The survey suggests corporations want political stability but don't want to hand Abe a landslide victory for fear he might become complacent about reviving the economy
Many companies in the survey expressed concern that a big election win would encourage Abe to invest his energy in a long-held ambition to revise Japan's pacifist constitution, at the expense of economic policy
94 percent of companies hoped Abe's coalition would win the election
48 percent wanted his bloc to obtain a smaller majority
20 percent hoped the ruling camp would retain the 323 seats it held before the lower house was dissolved last month
Seven percent wanted the ruling bloc to win more seats
Meanwhile, the corporate survey was conducted Sept 28 to Oct 12 for Reuters by Nikkei Research.
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
