This week in news brings you the latest of whats going on in Japan. The top stores are raising the consumption tax, shutting down all of Japan’s nuclear power plants, and only four of ten top consumer brands are Japanese.
Japan is proposing raising the consumption tax to 10 percent!
Yes, you read that right! The Japanese government is proposing to raise the consumption tax to a maximum of 10 percent by 2015! The reason? To cover for the huge amount of social security payouts (AKA pension system). The current tax in Japan is 5 percent. The first raise will be in 2014 with 8 percent followed by a 10 percent hike a year later. Source: Japan Times
All nuclear Power plants will be shut down in May.
There are currently 54 nuclear power plants in Japan. The last nuclear power plant to shut down for maintenance will be in May, which is located in Hokkaido. A nuclear power plant shuts down for maintenance every thirteen months of operation. Ever since the Fukushima incident, None of the nuclear power plants have been allowed to be restarted. After May, Japan would need to rely on mostly imported oil. At present, All 54 nuclear power plants supply 33 percent of the nations power. Source: The Washington Post
Only four of ten top consumer brands are Japanese
Here is a list compiled by Venture Beat:
1. (11) Apple
2. (1) Google
3. (2) Uniqlo
4. (7) YouTube
5. (6) Disney
6. (4) McDonalds
7. (3) Panasonic
8. (5) Nissan
9. (39) Dyson
10. (9) Rakuten
The numbers in parenthesis indicates last year’s previous rankings. I’m personally not surprised that Apple has become one of the most popular consumer brands in Japan since almost everyone from a JR high school kid to a grandma owns an IPhone. Source: Venture Beat