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Market Growth in an Aging Japan

01 MAY 2017

The world’s most aged society is facing an unprecedented demographic shift, with important lessons for other developed countries. The share of Japan’s population over the age of 70 is expected to surge to 24% by the end of the decade, while its young and working-age populations shrink and immigration stagnates. Goldman Sachs Research’s Sho Kawano explains the potential economic implications, from greater healthcare demand to M&A activity in Japan’s small-business-dominated economy. 

Looking at how Japan corporates are adapting to these changes would set a milestone for other economies when they face the same social change.

- Sho Kawano

Sho Kawano
Co-Head, Japan Equity Research and Business Unit Leader, Asia Consumer Research, Goldman Sachs Research