Japan's personal care sector rebounds after last year's VAT hit

Published: 26-Nov-2015

Country's personal care sector helped by innovative new products and services

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Japan’s personal care sector has rebounded strongly after several months of reduced purchasing – after the government raised the consumption tax (VAT) from 5% to 8% in April 2014 – thanks in large part to some innovative new products and services among the major domestic companies.

For the fiscal year to April 2015, the personal care sector enjoyed a third consecutive year of positive current value growth, with the outlook for the present fiscal year similarly positive. A total of Japanese yen JPY3.92 trillion (US$32.61bn) was spent in Japan’s beauty and personal care market during the year, up from JPY3.831 trillion ($31.87bn) in the 2012-13 fiscal year, according to market researchers Euromonitor International.

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