Inflation, not deflation, is now Japan's political hot potato as election looms [Financial Post (Toronto, Ontario, Canada)]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
US:NYSE Investor Relations:
smfg.co.jp/english/investor
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Source: Financial Post
While Kishida’s ruling coalition is set to win a majority, public discontent over inflation may undermine efforts to strengthen his grip on power and phase out the legacy of his predecessors’ economic policies. Already, rising prices are taking a toll on the strong popularity Kishida had enjoyed since taking office in October, with a poll by public broadcaster NHK on July 4 showing his approval rating at 54%, down from 59% three weeks earlier. Fuka Sato, a 28-year-old stylist working at a magazine publisher, says she will vote for an opposition party for the first time in her life. “I feel extremely insecure about the future,” said Sato, who says she eats out less often and gave up buying fruit because it became too expensive. Soaring commodity costs, fueled by Russia’s invasion of Ukraine, pushed Japan’s consumer inflation above the Bank of Japan’s 2% target for the first time in seven years. While the rate of inflation is still modest by global comparisons, it has shocked a pop
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SMFG
Sec Filings
- 3/27/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/25/24 - Form 6-K
- SMFG's page on the SEC website