JAPAN

R&D; Cutback Involves Key Industries: Key industries are cutting back their spending on research and development in belt-tightening forced by the faltering economy. Although 318 companies’ average investment in R&D; will remain around the 1991 level, 54 firms in the high-tech areas of electronics and precision instruments will spend 16.7% less than last year. In addition, R&D; investment at steel and chemical firms will dip more than 15%.