Accountancy in Japan

Country overview

Japan is situated between the North Pacific and the Sea of Japan in north-eastern Asia. The area of Japan is 377,835 square kilometres. Japan consists of four major islands, which are surrounded by more than 3,000 smaller islands.

Japan is a temperate region with four seasons. Because of its great length from north to south, its climate varies from region to region.

Japan’s population is around 126 million, most of which reside in densely populated urban areas. Japan’s capital city is Tokyo, the population of which (including the city, some of its suburbs and the surrounding area) is approximately 12 million.

Japanese is the only official language spoken in Japan, although many Japanese can understand English to a certain extent.

All of Japan is in the same time zone, 9 hours ahead of GMT. No Daylight-Saving Time is practiced in Japan.

Economic overview

The economy of Japan is the third largest in the world after the United States and the People’s Republic of China, having maintained itself as the second largest economy in the world from 1968  until 2010.

After achieving one of the highest economic growth rates in the world from the 1960s through the 1980s, the Japanese economy slowed dramatically in the early 1990s, when the “bubble economy” collapsed.  Japan endured periods of recession around the turn of the millennium, but from 2003 began to grow again. Subsequently, the global financial crisis and a collapse in domestic demand saw the economy shrink in 2008 and 2009.

Under new economic policy by Prime Minister Abe since December 2012, the economy showed slight signs of recovery, but a consumption tax rate hike in April 2014 slowed consumer spending, and the entire economy, back down again.

Transport infrastructure

Japan enjoys an advanced logistics network. The land, sea and air logistics infrastructure is well organized  throughout Japan.

Also, its geographic proximity to East Asian countries makes it an excellent choice for locating regional headquarters in East Asia.


Latest version updated 13th October 2017

Country Breakdown

127

Million

Population

¥

Japanese Yen

Currency

$ 4.94

Trillion

GDP

377,962

km2