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.
Thereafter, the economy showed signs of recovery as a result of various policy measures taken as well as efforts made nationwide, but it plunged again due to the Great East Japan Earthquake, which occurred on March 11, 2011.