By Megumi Fujikawa
TOKYO–Sentiment among Japan’s large manufacturers deteriorated slightly in the three months to December amid concerns over the global economic slowdown.
The main index for sentiment among large manufacturers was +7, compared with +8 in September, according to the Bank of Japan’s quarterly Tankan corporate survey released Wednesday.
The reading marked the fourth straight quarter of weakening and the lowest level since March 2021. The index represents the percentage of companies who said business conditions were favorable minus those saying conditions were unfavorable.
Big companies plan to increase their capital expenditure by 19.2% for the fiscal year ending March 2023, compared with plans for a 21.5% increase in the previous September survey.
Write to Megumi Fujikawa at megumi.fujikawa@wsj.com
(END) Dow Jones Newswires
December 13, 2022 19:27 ET (00:27 GMT)
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Read More: Japan Big Manufacturers’ Sentiment Weakens for Fourth Straight Quarter