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Business trends

Majority of Japan CEOs say recovery won't happen for 2 years

Nikkei survey says businesses move to trim back office space as telework takes root

Japanese business leaders are not expecting a quick bounce-back from the economic damage from the pandemic.   © Reuters

TOKYO -- The majority of Japanese companies CEOs expect the economy to take at least two years to recover from the fallout of the coronavirus, according to a Nikkei survey, pointing to a grim prognosis as the global pandemic shows no signs of abating.  

With nearly all of the 145 companies responded resorting to telework, 40% are considering either shrinking office space or tapping share-office services, suggesting that they are bracing for a prolonged battle with the virus.

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