Market Update

Japan Post COVID-19 Real Life to Rebound

Posted on Saturday July 25th, 2020

The cancellation of Japan’s state of emergency is emerging. Businesses across Japan start reopening on the 15th of May 2020, as the covid-19 curve has flattened over the past few weeks.

Expectations of normal day-to-day life increase, and demand for real life experiences is higher than ever.

Japan has been one of the first countries in Asia to catch Covid-19 since the virus outbreak took place in Wuhan, China in Q4 of 2019. Fast and proper efforts from the Japanese government to restrict the spread of the coronavirus have contributed to the downward trend we are seeing now.

The peak of the new infection rate was on the 9th of April 2020 and has continually decreased across Japan.

And for the first time in early May, the number of new infections dropped below 30 throughout Japan since the emergency declaration was issued on the 7th of April 2020. The government has begun to consider cancelling the state of emergency. We are now able to expect the nationwide restriction will end soon.

Sources: NHK, May 7, 2020

According to the Japan Times latest report, schools that had closed to prevent the spread of coronavirus reopened on Thursday, May 7, in some regions of Japan. Schools in Aomori and Tottori prefectures were the first in the country to open their doors despite the nationwide state of emergency that was declared last month.

In addition, the latest update from Bloomberg Japan stated that at the press conference on the evening of May 7, Minister of Economic Rehabilitation, Yasutoshi Nishimura expressed that experts have analyzed the situation regarding the possible cancellation of emergency state declaration that has been extended to the end of May. From this possibility of cancellation is emerging.

According to the movement toward the cancellation, the industry group’s guidelines for business resumption will be created by around the 14th.

Taking all the important and strict criteria into consideration, and making sure that Japan is in the final stage of the curve — the Prime Minister, Shinzo Abe, also expressed that, if possible, he would like to end the declaration of emergency before the expiration period.

Chief Cabinet Secretary, Yoshi Suga acknowledged that it is even possible to lift restrictions upon 13 prefectures, such as Tokyo and Osaka, before the expiration date.

Things are starting to go toward a better and brighter direction. This will, for sure, have positive impacts on the Japan businesses and economy.

Agencies can be hard to reach, thankfully, we’re not.

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