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

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

20230914N Pedestrians Tokyo REUTERS

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

YOHEI MATSUO, Nikkei staff writer

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.

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