Japan's unprecedented 10-day holiday to celebrate Crown Prince Naruhito...
TOKYO - Japan’s unprecedented 10-day holiday to celebrate Crown Prince Naruhito’s enthronement is expected to give the sluggish economy at least a short-term boost.
“Japanese are in a festive mood, with the new imperial era beginning and the 10-day break,” said Yoshiie Horii, a spokesman for brewer Asahi Group, which is increasing production of several brands by 5-10 percent ahead of the break. “We think this holiday will spur consumer spending.” “This is a once-in-a-lifetime chance to go on a long trip, so we’re disappointed,” Nishikata said. Instead, they’ll travel to either Hokkaido in the north or Kyushu in the south.
“In March, there was a lot of talk about a recession, but that’s completely disappeared with buzz from the announcement of Reiwa on April 1,” he said. “May 1 will be even bigger.”
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