The economy, which climbed over ¥600 trillion for the full year, was bolstered by exports and private consumption. In 2024, more than 36 million people visited the country, spending a record amount.
After prime minister Shigeru Ishiba failed to win a majority in the House of Representatives after a snap election, the yen fell to a three month low, with the Bank of Japan's monetary policy board set to meet later this week.
Domestic currency weakness may have provided a boost to Japanese and Korean exporters, but for the majority of corporates the lower value of the yen and won has been a negative development.
Interconnected QR code payment systems continue to be developed across Asia Pacific, facilitating cross-border retail payments while maximising user experiences.
SaaS firm, SignTime, is one of several private sector firms exploring the application of a secure digital signature in Japan’s domestic market. As Japan’s financial services sector begins to embrace digitalisation, the firm is eyeing international expansion.