For the first time in many years, there is an air of confidence in Japan amid signs that the country could be on the edge of an economic renaissance.
The stock market has bounced back, with the benchmark Nikkei average rising 44 per cent since November. Exporters are reporting higher profits as a result of a weaker yen and companies from Toyota to Seven-Eleven are paying their employees bigger bonuses than they have in some time.
The positive mood is such that, on meeting US President Barack Obama in Washington last month, Shinzo Abe, Japan’s prime minister, was able to declare that “Japan is back”.
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