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Japan ministry overstated construction orders data for years -Asahi By Reuters


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

TOKYO (Reuters) – The Japanese authorities overstated construction orders data obtained from the trade for years, which can have had the impact of inflating the nation’s financial progress figures, the Asahi newspaper reported on Wednesday.

Citing a number of sources on the Ministry of Land, Infrastructure, Transport and Tourism, the paper mentioned the ministry had been “rewriting” data obtained month-to-month from about 12,000 choose firms since 2013 at a tempo of about 10,000 entries per 12 months.

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

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

The survey compiles private and non-private construction orders which within the 2020 fiscal 12 months totalled roughly 80 trillion yen ($700 billion), and is used to calculate gross home product (GDP), based on 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 data from construction firms via native prefecture authorities.

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Companies that had been late in submitting orders data would typically ship in a number of months’ value of figures directly at a later date, the Asahi mentioned. 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 data, which can be in breach of regulation, continued till this March, the Asahi mentioned.

($1 = 113.7100 yen)

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