From the Taipei Times, a rather realistic view:
Troubled Japan returns to recession.
FALTERING POLICY:Japan’s ‘Abenomics’ program has lifted the stock market and lowered the value of the yen, but failed to raise incomes or spur sustained growth
So far, his “Abenomics” program, centered on aggressive stimulus by the central bank, has lifted the stock market, lowered the yen’s exchange rate — a boon for multinational companies like Toyota that earn a lot of revenue outside Japan — and helped curb persistent consumer-price deflation.
However, it has struggled to approach its ambitious goals for lifting incomes, spending and investment.
Sadayuki Sakakibara, chairman of the Japan Business Federation, or Keidanren, the nation’s most influential corporate lobby group, called for further official measures to support the economy. Abe’s government is working on a possible new spending package, according to Japanese media reports, which is expected to be worth about ￥3.5 trillion (US$29 billion).
More about Japan's Recession from the Taipei Times
Japan Is Back In Recession Again
Japan joins the Eurozone in feeling the chill from China.
The yen had initially fallen 20%, boosting exports and business sentiment. BoJ Governor Haruhiko Kuroda doubled down on that bet last year as the economy weakened in the wake of a big rise in taxes, but the yen barely reacted the second time around, and Kuroda pointedly refused to add to the current asset purchases of 80 trillion yen ($65 billion) a month last month as evidence of the slowdown increased.
More about Japan's Recession from Fortune magazine