Connect with us

Hi, what are you looking for?

A woman passes by an electronic board displaying the stock index in Tokyo/XINHUA


Japan business confidence unchanged in March

A woman passes by an electronic board displaying the stock index in Tokyo/XINHUA

TOKYO, Apr 2 – Business confidence among major Japanese manufacturers remained unchanged in March, the Bank of Japan said on Monday, disappointing the market, which had expected a pick-up.

The BoJ’s quarterly Tankan survey came in at minus four, its second consecutive quarter in negative territory and below economists’ expectations for a reading of minus one on hopes the weakening yen would spur exporters.

The figure represents the percentage of companies saying business conditions are good minus those saying conditions are bad. The survey is taken into account by the BoJ when formulating monetary policy.

The numbers, likely to spark expectations of further monetary easing by the Bank of Japan, suggest corporate managers have a cautious view of the world’s third-biggest economy.

Last month, the BoJ surprised markets by expanding its asset-purchase plan by $25 billion in a bid to kickstart growth.

In February, the bank said it would pump another 10 trillion yen ($120 billion) into markets, bringing the plan to 65 trillion yen.

In the survey released Monday, sentiment among large non-manufacturing firms improved slightly to plus five in March, compared with plus four in December.

Large manufacturers kept their outlook at minus four, unchanged from December.

Capital spending plans among big companies also remained unchanged, the survey showed, below economists’ forecasts for a slight increase.

Last week, Japan posted an unexpected 1.2 percent fall in February’s factory output after two months of growth, casting doubt on whether the economy was mounting a firm recovery.

Advertisement. Scroll to continue reading.
Click to comment

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...


NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...


NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...


NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...


NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...