Tokyo: The Bank of Japan on Thursday upgraded its economic assessments for four of the country’s nine regions, including Hokuriku in central Japan and the Kanto-Koshinetsu eastern to central region.

The economic views for the other five regions were kept unchanged in the BOJ’s quarterly Regional Economic Report, adopted at the day’s meeting of managers of the central bank’s local branches.

The BOJ’s assessment on consumption was raised for six regions including Tohoku in northeastern Japan and Hokuriku, and kept unchanged for the remaining three regions.

While new cases of novel coronavirus infection increased in winter, private spending expanded as travel demand recovered thanks to the government’s tourism promotion campaign.

Consumption by foreign visitors increased on the back of a weaker yen.

The number of visitors to Japan has been rising back due to Japan’s border measures against COVID-19 being relaxed substantially.

The BOJ lifted its view on production for the Kyushu-Okinawa southern region because parts supply constraints eased although companies continue to face difficulties procuring semiconductors.

The production assessment was left unchanged for the other eight regions.

JIJI Press