Japan Wary of Coronavirus Impact on Domestic Economy

Politics

Tokyo, Feb. 4 (Jiji Press)--The Japanese government and the Bank of Japan are increasingly wary of the potential impact on the domestic economy of the coronavirus outbreak originating in China.

If the outbreak is prolonged, the Japanese economy could be hit hard by a plunge in the number of visitors from China and supply chain disruption, observers said.

The coronavirus spread, as well as unusually warm weather in Japan this winter, "poses downside risks to the economy," Economic and Fiscal Policy Minister Yasutoshi Nishimura told a press conference Tuesday.

At a separate news conference, Economy, Trade and Industry Minister Hiroshi Kajiyama said that Japanese companies are "concentrated" in the Chinese city of Wuhan, Hubei Province, the epicenter of the outbreak.

"We're working to gather information so we'll be ready to respond swiftly to any situation," Kajiyama said.

[Copyright The Jiji Press, Ltd.]

Jiji Press