Japan's national tax revenue for the fiscal year 2024 reached a record high of 75.232 trillion yen, marking the fifth consecutive year of increases. This surpasses the previous year's 72.0761 trillion yen and exceeds government forecasts by approximately 1.8 trillion yen. The rise in tax revenue is primarily attributed to strong corporate earnings, with corporate tax revenue growing by about 13% and consumption tax revenue increasing by roughly 8%. The Ministry of Finance noted that corporate tax levels have approached those seen during Japan's bubble economy period. The surplus revenue, after deducting expenditures, expanded to approximately 2.26 trillion yen from the previous year. Despite the windfall, questions remain about how Prime Minister Shigeru Ishiba will finance his proposed cash handouts. Separately, the Government Pension Investment Fund (GPIF) reported a 0.71% gain in the fiscal year ended March 2024, amounting to 1.7 trillion yen in investment income, continuing its streak of five consecutive years of positive returns.