Moody's expects 0.5%-1.5% GDP growth in Japan in 2016

Moody's with a circumspect outlook for Japan in 2016

• Muted domestic and global GDP growth will support broadly stable earnings for Japan's (A1 stable) non-financial corporates in 2016
• Steel and oil & gas companies remain most pressured

"Japan's corporates remain cautious under subdued domestic and global conditions, and will broadly focus on cutting costs, reducing leverage and maintaining credit quality and ratings," says Masako Kuwahara, a Moody's Vice President and Senior Analyst.

"Nevertheless, moderate overseas economic growth should support exporters and global manufacturers, while lower oil and commodity prices will benefit importers and domestic companies -- even if partially offset by the weaker yen"

Moody's expects 0.5%-1.5% GDP growth in Japan in 2016