Japanese men hoping to reap the benefits of the economic upturn with an increase in their monthly spending cash will be disappointed to find this won't be happening anytime soon. It seems their wives, who typically control family purse strings in Japan, have yet to buy into Abenomics.
According to an online survey of 3,300 individuals carried out by Orix Bank Corp. in July, the average monthly spending allowance of men fell by 11% compared with last year's survey, falling to Y30,468 ($310).
In some ways, the survey result released Tuesday is not a big surprise since Prime Minister Shinzo Abe's policies to bolster the economy have yet to translate into a rise in wages for the average Japanese worker.
Many economists say it will take longer for the policies - known as Abenomics - to boost the base salaries of company employees and seep into the spending patterns of average Japanese homes. Spending so far has mainly been driven by those profiting from a rise in share prices from late last year, leading to a splurging on luxury items by the wealthy.
While the reasons are unclear, the survey also indicates that most men didn't even attempt to have their pocket money increased. Only 5.1% of respondents said they negotiated to have their allowances raised. And of those who did bargain with their partners, 70% didn't actually succeed in getting a raise.
Japanese Prime Minister Shinzo Abe defended his reflationary policy, dubbed Abenomics, on Friday while opposition leaders argued it is failing, after the House of Representatives was dissolved on the day for a snap election. (Jiji Press)
Japan's Lower House speaker has issued a very unusual order. He told lawmakers to redo their "banzai" cheers because some chimed in before he finished reading the official declaration to dissolve the chamber. (NHK)
Murder suspect Chisako Kakehi invested most of the about Y1 billion she inherited from her spouses and lovers in futures trading and other financial products over the past few years, The Yomiuri Shimbun has learned from investigative sources. (The Japan News)
Japanese public prosecutors on Friday demanded a prison sentence of 10 years for Yusuke Katayama, who is accused of hijacking other people's personal computers and using them to send online threats. (Jiji Press)
According to various Japanese news sources, 83-year-old retiree Yasuji Shibata was arrested for selling obscene material via an Internet auction in April for 3,400 yen (about US$28) after police found explicit photos in his home on November 16. (rocketnews24.com)
Police raided Internet proxy server operators across Japan on Wednesday over a spate of online banking fraud cases, with at least two of the operators suspected of helping illegal access from China. (Jiji Press)