May 11, 2012, the Japanese government reporting that pre-tax profits of Japanese businesses dropped for the first time in the past three years.

For the Japanese fiscal year (which ends in March) 2011 there was a drop of in overall business profits by 13.3%.  This only concerns the 701 companies listed on the Tokyo Stock Exchange.

The Japanese Finance Ministry also reports that the debt of the Japanese government is at a record high.  It is now at $12 trillion USD!

That’s an increase of $437 billion USD since last year.  It works out to about $90,000 USD for every Japanese citizen!

Officials blame everything on the rising value of the yen, which is being caused by the ongoing nuclear disaster at Fukushima Daiichi, and the lack of economic recovery in the United States.