FOCUS: Japan's tax cut frenzy before election may favor food firms, not consumers

TOKYO - Plans to cut the tax on food adopted by most parties as a key campaign pledge ahead of Sunday's election could benefit food companies more than inflation-plagued consumers, by allowing them to raise prices, analysts say.

The ruling coalition of the Liberal Democratic Party and the Japan Innovation Party, which media polls show is on track to secure a majority in the House of Representative election, have vowed to "consider" eliminating the 8 percent consumption tax on food items for two years to support consumers reeling from price increases.