TOKYO -- Outside Masahisa Noda's secondhand shop in Tokyo's Asakusa district are racks of bargain items, on sale at 30% off; on the glass door is a sign offering a 5% rebate for cashless payments. Inside, surrounded by kimonos and obis stacked neatly on shelves, Noda is gloomy about the future. A hike in the consumption tax last fall hit his sales hard, and he sees little prospect of a recovery.

The Big Story
How coronavirus, typhoons and taxes drove Japan to the brink of recession
Tourism industry braced for disappointing year despite Olympics