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Over half of Japanese CEOs say domestic economy 'expanding'

Latest Nikkei survey cites inbound tourism recovery as key factor

Tourists in kimono are seen in Tokyo on March 13, the first day following the easing of rules on mask-wearing in Japan.   © Reuters

TOKYO -- For the fourth consecutive quarter, more than half of Japanese corporate chiefs said the country's economy is expanding, thanks to recovery of inbound tourism and robust capital investment, according to a Nikkei survey.

However, the survey also highlighted top executives' concerns over inflation. In addition, fewer than 20% of companies expected wage increases to outpace rising prices over the medium to long term, highlighting uncertainties about the underlying strength of consumption.

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