more from nhk world's kyoko fujita. >> reporter: prime minister shinzo abe kept japan in suspense for months as he debated raising the consumption tax. last october, he decided the hike should happen. >> translator: we will preserve people's trust in our country, and pass on a sustainable social security system to the next generation. >> reporter: japanese first began paying a sales tax in 1989. it started out as 3%. in 1997, then-prime minister hashimoto raised it to 5%. >> translator: we need to work on fiscal consolidation right away, and we will introduce measures to do that. >> reporter: back then, japan's debt stood at about $5.9 trillion. the government needed more money, the population was aging rapidly, and social security costs had started to skyrocket. but the tax increase came at a bad time. the bursting of the asset price level burdened banks with billions of unpaid loans. personal spending slumped, and economic growth slowed. then, the asian financial crisis hit, and things got worse. major japanese security firms and banks went bankrupt. hashimoto faced a crushing defea