In many advanced economies, corporate tax reforms have been implemented that combine cuts in statutory corporate tax rates with a broadening of the tax base. Japan also introduced a similar reform in fiscal years 2015–2016—known as the “Growth-Oriented Corporate Tax Reform”—with the aim of promoting economic growth by reducing the tax burden on firms with strong “earning power.”

This project examines how this reform affected firm behavior—such as investment, employment, financing, innovation, growth, entry, and exit—as well as the macroeconomy, using corporate tax return data that cover nearly the full population of corporations in Japan.

The micro-level corporate tax return data used in this project are being utilized and compiled for the first time in Japan through a joint research initiative with the National Tax Agency (National Tax College). The descriptive statistics derived from these data are therefore valuable in their own right.

• January 18th, 2026

To share updates on our project, “Research on the Impact of ‘Growth-Oriented Corporate Tax Reform’ on Firm Dynamics and the Macroeconomy,” we have launched this website.