Koji Ishida: Recent economic and financial developments in Japan Summary of a speech by Mr Koji Ishida, Member of the Policy Board of the Bank of Japan, at a meeting with business leaders, Kagoshima, 21 June 2012. *  *  *  I. Economic activity and prices in Japan  A. Recent developments  1.
Japan’s economy  First, I will talk about recent developments in economic activity and prices in Japan. Economic conditions in Japan worsened sharply in the wake of the severe global contraction that followed the failure of Lehman Brothers in 2008.