Strong Yen to Affect Japan's Tax Revenues

Japan's government is set to revise downward its projected tax revenues for the current fiscal year. It said that a stronger yen has put a squeeze on corporate tax payments. 
Government officials had predicted strong corporate profits for fiscal 2016. They had estimated that tax revenues would reach more than 57.6 trillion yen, or about 510 billion dollars, according to Japan's (NHK WORLD) radio. 
But now they're revising their figures downward by about 9 billion dollars. This is the first such revision since fiscal 2009, in the wake of the global financial crisis. 
Officials plan to compile an extra budget by the end of the year to cover the shortfall. It may include more deficit-covering bonds. 
Analysts said that the dent in revenue is certain to affect the nation's finances, and make it harder to secure funding for ballooning social-security costs