Insiders say that Japan's tax revenue last year may have hit a historic high.

Two government sources revealed on Thursday that Japan's tax revenue for the 2025 fiscal year may exceed 84 trillion yen, setting a historical record for the sixth consecutive year. The growth in tax revenue is expected to help the government of Prime Minister Naoto Kan reduce its reliance on new debt issuance to support large-scale expenditure plans. The Japan Broadcasting Corporation NHK was the first to disclose that tax revenue for the fiscal year ending in March of this year is estimated to be about 4 trillion yen higher than the government's forecast from last November. Sources indicated that rising wages and strong corporate profits have led to an increase in tax payments from both residents and businesses, thereby raising overall tax revenue.