Japan's economy may be the first among the Group of Seven nations to recover because its banks and companies are relatively healthy, an economic policy aide at the Cabinet Office said.

"It's possible Japan will be the first one to see signs of recovery," Takashi Omori, an advisor to Economic and Fiscal Policy Minister Kaoru Yosano, said in an interview on Jan 9.

"Damage in the financial sector has been relatively light and corporate health has dramatically improved."