Japanese trade deficit widens on oil an gas imports Japan's exporting power has dwindled in recent years, hurt by the strong yen. It has also been crimped by weak demand from Europe and the US following the 2008 financial crisis. Fitch downgraded Japan by two notches to A+ on Tuesday. Mitsubishi UFJ Financial Group's main banking units and those of country's largest lending groups were put on watch for a one-level downgrade by the ratings agency.