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Post by bot on Jun 11, 2013 6:03:26 GMT -5
Japan plans 'drastic' tax cuts for investment: Abe LOS ANGELES (MarketWatch) -- Japanese Prime Minister Shinzo Abe said Sunday his government plans to launch a dramatic tax break for corporate investment this autumn after the conclusion of upper-house elections. Speaking in an interview with broadcaster NHK, Abe promised "a drastic investment-tax reduction" representing part of the "second stage" in his reform moves to boost growth, according to a Kyodo News translation of the remarks. Stocks rose sharply Monday morning in the wake of the announcement, with the blue-chip Nikkei Stock Average up 3.2% in the early minutes of trading.
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