BOJ Mitani: Econ close to deflationary spiral

JAPAN - Many companies in Western Japan think the economy is on the verge of a deflationary spiral, the manager of the Bank of Japan's Osaka branch said Monday.

Takahiro Mitani said falling exports and production continue to weigh on economic activity in the Kansai region, and the impact is taking a toll on labor and income conditions.

"Adjustments in the economy are becoming more severe," Mitani said. " Both the economy and prices are very severe. Many companies believe the economy is on the v