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Business trends

Trump tax cuts could mean a $3.5bn boon for Japan Inc.

Automakers and trading houses stand to reap the biggest benefit

U.S. President Donald Trump celebrates with Congressional Republicans after Congress passed sweeping tax overhaul legislation.   © Reuters

TOKYO -- The U.S. corporate tax reduction enacted Wednesday will lift profits at Japanese companies by roughly 400 billion yen ($3.52 billion), a Tokyo think tank estimates, potentially encouraging them to invest more in American operations.

The legislation, which President Donald Trump is expected to sign soon, drops the federal corporate tax rate to 21% from 35%. 

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