The agency on Japan:

  • says external resilience is further supported by Japan's reserve currency status and investor perceptions as a safe haven
  • affirmed long-term foreign-currency issuer default rating at 'A' with a stable outlook
  • Says expect Japan's inflation to pick up temporarily following tax hike, to 1.5% by end of year
  • Further escalation of global trade tensions could pose a significant risk to outlook for Japan