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Japan

Special Data Dissemination Standard

Summary
The International Monetary Fund's (IMF) Special Data Dissemination Standard (SDDS) website states that Japan has been a subscriber to the SDDS since July 1996, posted its metadata in November 1996, and started meeting its requirements in June 2000. Both the IMF's SDDS website and a 2007 observance report by the IMF note that Japan meets or exceeds SDDS standards of coverage, timeliness, and periodicity for most data. The country, however, takes the timeliness and periodicity flexibility option for certain data categories. The Japanese authorities provide advance release calendars for all data categories and information on the SDDS website indicates that statistical data for all entry points are being simultaneously released to all interested parties. Per the SDDS website, the integrity dimension largely meets the SDDS requirements, except that for several data categories information on identification of ministerial commentary is not provided. Most data categories provide information on terms and conditions for confidentiality, except for Central Government Debt, Central Government Operations, International reserves and foreign currency liquidity, and Merchandise Trade, where no information is available on the SDDS website. Information provided by the Japanese authorities on the IMF's SDDS website indicates that Japan generally fulfils SDDS requirements on the quality dimension; however for a few data categories like Central Government Debt, Central Government Operations, and Interest Rates, there is no information on the SDDS website regarding the SDDS requirement on dissemination of component details.

    General Overview

    Japan has been a subscriber to the International Monetary Fund's Special Data Dissemination Standard (SDDS) since July 1996 and started meeting SDDS specifications in June 2000. The information on the SDDS website indicates that Japan meets the SDDS requirements for coverage, periodicity, and timeliness of the data, and broadly satisfies the conditions for access, integrity and quality dimensions for all data categories. The IMF's 2008 Article IV Consultation report notes that economic and financial data submitted to the Fund are deemed adequate for surveillance purposes. However, the IMF in its 2006 Article IV report recommended that Japan improve its overall coordination of macroeconomic statistics; consider establishing a legal authority that is in line with other countries with the objective to disseminate statistical data; further formalize the delineation between the statistical and non-statistical functions; and enhance staff statistical expertise and data consistency across the datasets.
    The Statistics Bureau, Director-General for Policy Planning (Statistical Standards) and Statistical Research and Training Institute (STAT) website indicates that the organization has a paramount role in the coordination of statistical activities through the production, compilation and dissemination of domestic statistics pursuant to the Statistics Law and other legislation. The STAT conducts major censuses and statistical surveys, while other ministries generate statistics related to their respective fields. For instance, according to the IMF's 2006 Report on Observance of Standards and Codes (ROSC), the Economic and Social Research Institute generates the national accounts figures, the Ministry of Internal Affairs and Communication oversees consumer price index data, while the Bank of Japan covers the corporate goods price index, and the monetary statistics.
    Pursuant to the Statistics Law and the Statistical Reports Coordination Law, one body, the STAT, oversees the compilation and dissemination of all statistical data in Japan in order to maintain consistency and avoid duplication of efforts. Per the IMF's SDDS website, the collection and dissemination of various sector specific data are governed by different acts. For instance, statistical information related to Central Bank Accounts is governed by the Bank of Japan Act, while data on Central Government Operations are governed by the Ministry of Finance Establishment Law and the Public Finance Law.


    The Principles

    Comprehensive economic and financial data, disseminated on a timely basis.

    The 2007 annual observance report by the IMF notes that, in 2007, Japan observed the SDDS' requirements on the timeliness, periodicity and coverage of its data. However, the report noted that Japan did avail itself of the flexibility option with regards to the timeliness and periodicity of certain data categories. Similarly, the IMF's SDDS website also indicates that Japan fulfils the SDDS' requirements for this principle albeit taking the timeliness flexibility option on General government (public sector operations); Central Government Operations; and Analytical Accounts of the Banking Sector, and the periodicity flexibility option on Central Government Operations.

    Ready and equal access to official statistics.

    Advance release calendars (ARCs), during 2007, were provided for all data categories for all months, according to the IMF's 2007 observance report. The IMF's SDDS website also notes that ARCs are provided for all data categories are data are released simultaneously to all interested parties.

    Official statistics must have the confidence of their users. Transparency of its practices and procedures is a key factor.

    According to the IMF's SDDS website, the integrity dimension largely meets the SDDS requirements. All data categories provide information on the terms and conditions under which official statistics are produced and most data categories also specify the laws and regulations governing the confidentiality of individually identifiable information. The categories that do not provide the latter information are data on Central Government Debt, Central Government Operations, International Reserves and Foreign Currency Liquidity, and Merchandise Trade, for which no information is available on the IMF's SDDS website. For a few data categories, there is no information provided on the IMF's SDDS website on the SDDS requirement on identification of internal government access to data before release. Similarly, for several data categories, information on identification of ministerial commentary on the occasion of statistical releases is not provided.

    A set of standards that deals with the coverage, periodicity and timeliness of data must also address the quality of statistics.

    In its 2007 annual observance report, the IMF states that "during 2007, Japan provided available information on the methodology, sources, and reconciliation of data categories in Data Quality Assessment Framework that would facilitate users to assess the quality of the data" (p. 7). Information provided on the IMF's SDDS website indicates that Japan generally fulfils all SDDS requirements on the quality dimension; however for a few data categories like Central Government Debt, Central Government Operations, and Interest Rates, there is no information on the SDDS website regarding the SDDS requirement on dissemination of component details that support statistical cross-checks and provide assurances of reasonableness.

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    Sources of Assessment

    International Monetary Fund, "Japan: Report on Observance of Standards and Codes - Data Module, Response by the Authorities, and Detailed Assessments Using the Data Quality Assessment Framework (DQAF)," Country Report No. 06/115, Washington, D.C.: IMF, February 2006. Available from International Monetary Fund website. Accessed on July 25, 2008. (IMF 2006a)

    International Monetary Fund, "Japan: Annual Observance Report of the Special Data Dissemination Standard for 2007," 2007. Available from International Monetary Fund website. Accessed on July 23, 2008. (IMF 2007)

    International Monetary Fund, "Japan: 2008 Article IV Consultation--Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion, Country Report No. 08/253, Washington, D.C.: IMF, July 2008. Available from International Monetary Fund website. Accessed on August 4, 2008. (IMF 2008a)

    International Monetary Fund's Special Data Dissemination Standard website. Accessed on July 23, 2008. (IMF SDDS website)

    Relevant Organizations

    Bank of Japan (BoJ)

    Economic and Social Research Institute of the Cabinet Office (ESRI)

    Japan Ministry of Finance (MoF)

    Ministry of Internal Affairs and Communication (MIC)

    Statistics Bureau, Director-General for Policy Planning (Statistical Standards) and Statistical Research and Training Institute (STAT)



    Relevant Legislation/Regulation

    Statistical Reports Coordination Law/Law No. 148 (Last amended in 1988)

    Statistics Law/Law No. 79 (Last amended in 2000)

    Bank of Japan Act No. 89, 1997

    Ministry of Finance Establishment Law

    Public Finance Law



    Supplementary Sources

    International Monetary Fund, "Japan: 2006 Article IV Consultation - Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion," Country Report No. 06/275, Washington, D.C.: IMF, July 28 2006. Available from International Monetary Fund website. Accessed on July 25, 2008. (IMF 2006b)

    Statistics Bureau, Director-General for Policy Planning (Statistical Standards) and Statistical Research and Training Institute website. Available from the Statistics Bureau and Statistics Center website. Accessed on July 24, 2008. (STAT website)
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