Japanese business sentiment improved in the second quarter as raw material costs peaked and the removal of pandemic curbs lifted factory output and consumption, a central bank survey showed, a sign the economy was on course for a steady recovery.
“The tankan confirmed our view that Japan’s economy is on track for a moderate recovery.”
Large firms plan to ramp up capital expenditure by 13.4 percent in the current fiscal year ending in March 2024, exceeding the 3.2 percent increase projected in the March survey. The increase compared with a median market forecast for a 10.1 percent rise.
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