This Selected Issues paper on Japan was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on June 17, 2010. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Japan or the Executive Board of the IMF.The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information.