Japan's regional economies "have been gradually picking up" amid rising share prices and exports, Japanese Finance Ministry said on Wednesday, lifting its overall assessment for the three months through March for the first time in three quarters.

Eight out of 11 regions were upgraded, including Kanto region centering on Tokyo and Tokai in central Japan, where Toyota Motor Corp. is headquartered, reflecting that the recent depreciation of the yen and higher stocks have improved business and consumer sentiment.

Looking ahead, the regional economies are expected to grow, supported by Prime Minister Shinzo Abe's economic policies aimed at beating deflation, but downside risks linger such as a possible slowdown in the global economy, Kyodo News Agency quoted the ministry as saying. Endi

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