Weekend Nikkei: Japan to cut effective corporate tax rate

From the Nikkei (Japan press) over the weekend:

• The Japanese government is preparing to cut the country's effective corporate tax rate to less than 30% in fiscal 2017, which starts in April of that year, people familiar with the matter said Saturday.

More:

• Japan's effective corporate tax rate currently averages 32.11%
• Plans are to lower it to 31.33% in fiscal 2016
• No firm decision has been made for fiscal 2017 and beyond

Article is here

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This should be viewed as a yen positive to the extent it gives a boost to Japanese companies, especially their investment plans, and reduces pressure on the BOJ to ease further.