Key View

• We remain positive on our outlook for Japan's healthcare sector under the leadership of Prime Minister Kishida.
• Pricing environment will weigh on drugmakers’ growth prospects in Japan.
• A slowing economy will further restrict the government’s ability to increase spending on pharmaceuticals.

We remain positive on our outlook for

Key View

• Daiichi Sankyo revised upwards its guidance for FY21 following strong sales performance from its mainstay and oncological products.
• Daiichi continues to collaborate with other drugmakers to strengthen its oncology portfolio, while also developing its own mRNA Covid-19 vaccine.
• Despite improving sales in other global regions, Japan

Key View

• Semiconductor manufacturer TSMC will construct a foundry in Japan as part of its international expansion plans to secure long-term growth amid extensive domestic risks.
• The move will be advantageous for Japan given the decline of its chip industry over the last few decades.
• TSMC also hopes the expansion of its production facilities

Key View

• Economic growth and medical device market performance will stay on a steady path despite virus risks resulting from a domestic viral outbreak coinciding with the Olympic Games.

• Prime Minister Suga’s ability to consolidate power in the approaching election will determine policymaking abilities and healthcare reforms in the mid

Key View

• We at Fitch Solutions have retained our view that Japan will grow by 2.5% in 2021 as a whole with growth slowing to 2.1% by in 2022.
• In the Q221, Japan’s real GDP grew at an annualized quarterly rate of 1.3% which implied year-on-year growth of 7.5%. The positive annualized growth in Q2 means that Japan has avoided another year of

Key View

• The ongoing global semiconductor shortage will drag on the recovery of Japan's vehicle production over 2021 and likely into 2022.
• Additional supply chain disruption risks are emerging from the resurgence of Covid-19 cases in some parts of Asia (specifically Indonesia, Thailand, Malaysia, Singapore Taiwan and Vietnam), and we could

Key View

• Japan’s Prime Minister Yoshihide Suga faces growing risks to his position, as his Liberal Democratic Party (LDP) prepares for elections that must be held by October 2021.
• Suga’s biggest challenge will be to contain the coronavirus, and ensure that Japan does not experience a fifth wave amid hosting the Olympic Games.
• Although the

Key View

• We at Fitch Solutions have retained our forecast for Japan’s GDP to grow by 2.5% in 2021 and highlight that the economy faces ongoing challenges due to the Covid-19 outbreak.
• In the first quarter of 2021, Japan’s economy contracted by 1.9% y-o-y, which was slightly weaker than consensus of -1.8% but in line with our view.
• The slow

Key View: We forecast real household spending in Japan to begin to recover in 2021, with a growth of 1.0% y-o-y projected, after the Covid-19 pandemic led to an estimated contraction of -5.4% y-o-y in 2020. While Japanese authorities were initially successfully in curtailing the first spread of the Covid-19 virus, the second and third wave has