Japan business mood improves as firms raise investment plans

A man runs on a crosswalk at a business district in central Tokyo, Japan September 29, 2017. REUTERS/Toru Hanai

  • Big manufacturers’ sentiment index +18 vs f’cast +13 – tankan
  • Big non-manufacturers’ sentiment improves slightly in Q3
  • Big firms expect capex to increase 10.1% this fiscal year

TOKYO, Oct 1 (Reuters) – Japanese business confidence improved in the three months to September, a central bank survey showed on Friday, a sign the economy was steadily emerging from the slump caused by the coronavirus pandemic.

Large companies expect to increase capital expenditure by 10.1% in the current fiscal year ending in March 2022, the survey showed, backing up the central bank’s view robust corporate-sector activity will offset some of the weakness in consumption.

The survey bodes well for Fumio Kishida, who will succeed Prime Minister Yoshihide Suga next week with a mandate to pull the economy out of the pandemic-induced doldrums and distribute more wealth to…

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