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The Bank of Japan (BOJ) Osaka Branch Manager was on the wires last minutes, via Reuters, making some comments following the release of the central bank’s Sakura report.

Key Points:

Exports to China, Asian countries weakening but those to the US, Europe remain firm.

Must scrutinize the impact of protectionism, US policy, geopolitical risk on corporate, household sentiment.

The current weakness in external demand seen temporary, likely to pick up in the latter half of this year.

Domestic demand, including capex, and consumption robust in Kinki western Japan region.