Japan shrugs off "excessive pessimism"

Investors may begin to consider Japan as a location for their overseas business ventures following the release of new figures.

The country's economy increased by 0.9 per cent in the second quarter, meaning it has successfully climbed out of recession, the BBC reports.

This may interest expats planning on making money transfers to fund assets held in the region.

Government funding of £159 billion has been credited with stimulating Japan's economy, while exports have increased by 6.3 per cent.

Seijiro Takeshita, director of banking group Mizuho Financial, stated his belief that the country's financial system was strengthening due to government funding.

He told the broadcaster: "We are definitely getting out of the excessive pessimism that we have been seeing.

"We know this time it was good, but that was due to a lot of government stimulus spending."

Elsewhere, figures show that Germany and France recently exited the recession following an economic growth of 0.3 per cent in both countries.

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By Linsey Summers