Japan’s industrial production rose 2.2% month-over-month in January 2026, reversing a 0.1% drop in the previous month but missing market estimates of a 5.3% growth, flash data showed. It was the first yearly increase since last October, as manufacturers resumed production following year-end maintenance. Industries that mainly contributed to the increase were motor vehicles (9.1% vs 1.4% in December), plastic products (8.1% vs flat reading), chemicals, excluding inorganic, organic chemicals, and medicine (7.4% vs -3.0%). On an annual basis, production expanded 2.3%, slowing from a 2.6% gain in December and marking the second straight month of increase.