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Japan's corporate profits aren't trickling down, new data shows

Record $4.2tn gross national income lifted by overseas earnings, dividends

Total cash pay for full-time Japanese workers rose only 1.7% in July, well below the inflation rate.   © Reuters

TOKYO -- Japan's overall income has grown to all-time highs, but the gains are concentrated in corporate earnings and have yet to bring higher household spending.

Japan's revised gross domestic product for the April-June quarter hit a record annualized figure of 589 trillion yen ($4 trillion) in nominal terms. Nominal gross national income, which takes into account income received and paid across the border, was even higher at an annualized 625 trillion yen. or $4.24 trillion.

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