Record-Breaking Entertainment Tab: Japanese companies spent a...

Record-Breaking Entertainment Tab: Japanese companies spent a record $36.6 billion (4,980 billion yen) on corporate entertainment in the year ending January, 1990, the tax agency reported. The average company spent $18,700 (2.5 million yen) to entertain business contacts at bars, restaurants and on golf courses, as well as for gifts. This was a 9.4% increase from the previous year, the agency said. In recent years, the corporate entertainment bill has been larger than the nation’s defense spending.