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

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

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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