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Japan ministry overstated development orders knowledge for years -Asahi By Reuters


© Reuters. FILE PHOTO: Buildings underneath development are seen in a normal view from Tokyo Tower of town of Tokyo, Japan, August 6, 2021. Image taken August 6, 2021. REUTERS/Clodagh Kilcoyne

TOKYO (Reuters) – The Japanese authorities overstated development orders knowledge acquired from the business for years, which can have had the impact of inflating the nation’s financial development figures, the Asahi newspaper reported on Wednesday.

Citing a number of sources on the Ministry of Land, Infrastructure, Transport and Tourism, the paper stated the ministry had been “rewriting” knowledge acquired month-to-month from about 12,000 choose corporations since 2013 at a tempo of about 10,000 entries per yr.

In a parliamentary session on Wednesday, Land Minister Tetsuo Saito confirmed the misstating of development orders knowledge, calling it “extraordinarily regrettable” and vowed it will not be repeated.

It was not clear why the federal government began the follow of rewriting at the moment, the Asahi stated, citing an official on the ministry’s survey division.

The survey compiles private and non-private development orders which within the 2020 fiscal yr totalled roughly 80 trillion yen ($700 billion), and is used to calculate gross home product (GDP), in line with the paper.

The report didn’t say if or by how a lot GDP figures had been affected.

For the survey, the ministry collects month-to-month orders knowledge from development corporations by native prefecture authorities.

Firms that have been late in submitting orders knowledge would usually ship in a number of months’ value of figures without delay at a later date, the Asahi stated. In these situations, the ministry would instruct native authorities to rewrite the orders for the mixed months because the determine for the newest, single month.

The rewriting of the information, which can be in breach of legislation, continued till this March, the Asahi stated.

($1 = 113.7100 yen)

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